Economy & Budget
Creating Jobs, Growing Our Economy, and Promoting Fiscally Responsible Budgets
As a senior member of the Banking Committee, Senator Reed is a leading voice on economic issues facing America's families. Throughout his career, Reed has supported fiscally responsible policies to help create jobs, expand our economy, and reduce our national debt.
As a member of the Appropriations Committee, Reed has directed hundreds of millions of dollars back to the state to bolster Rhode Island's economy, improve our infrastructure, and put more people to work.
Reed has also helped ensure the federal government makes smart investments in job training and education programs that will get our economy back on track and make health care, college tuition, and energy more affordable for working families. For example, he brought $15 million to Rhode Island for the creation of the Exeter Job Corps Academy and helped pass the College Cost Reduction and Access Act to provide Rhode Island students with nearly $85 million in additional Pell Grant aid over five years.
As a member of the committee that oversees federal housing policy, Reed has secured millions of dollars to revitalize neighborhoods and provide more seniors and working families with access to affordable housing. His efforts to improve mortgage disclosure laws and create an affordable housing trust fund have garnered national praise and attention.
With Rhode Island facing one of the highest unemployment rates in the nation, Reed continues the fight to extend unemployment insurance benefits so people looking for work can pay their bills and support their families. Economists say that extending unemployment benefits is one of the most effective ways to stimulate the economy.
Senator Reed also supports focusing tax breaks on the middle class. He helped save an estimated 70,000 Rhode Islanders from being hit with an extra 2007 tax bill through the Alternative Minimum Tax (AMT), saving the average family $2,000.
As Chairman of the Senate Banking Subcommittee on Securities and Investment, Reed has sought to shine a light on regulatory lapses that led to the current credit crisis and mortgage meltdown and proposed initiatives to prevent repeat episodes and restore investor confidence in our markets and our economy.
Learn more about Senator Reed's work to increase affordable housing, curb inflated energy prices, and restore investor confidence on our financial markets.
Recent News:
Reed Votes to Extend Renewable Energy Tax Credits
Reed Votes to Shield 90,000 Rhode Islanders from Being Hit with a Higher Tax Bill
Reed Votes to Extend Unemployment Insurance and Stimulate Economy
Senate Panel Approves $600,000 for Rhode Island in Financial Services Plan
Senator Reed's Statement on Treasury's New Regulatory Blueprint
Outside Links:
