Jobs & Economy
Accelerating Economic Growth & Helping Businesses Create Good-Paying, Sustainable Jobs in Rhode Island
Rhode Island has been hit especially hard by the economic downturn and Senator Reed is working hard to help save and create jobs to get our economy back on track. He has led efforts to help make health care, college tuition, and energy more affordable for working families.
As a member of the Appropriations Committee, Reed has directed critical federal funding back to the state to improve our infrastructure, put more people to work, and lay the foundation for future economic growth. He is also ensuring the federal government makes smart investments in job-training, such as the $15 million he brought back to the state to help set up the Exeter Job Corps Academy, and other education programs to help keep our highly-skilled and talented college graduates in Rhode Island.
Toward the end of George W. Bush’s second term in office, the U.S. economy was losing 700,000 jobs per month and the recession was accelerating. Senator Reed voted for the Recovery Act, which cut taxes for 95% of American workers, invested over $2 billion in Rhode Island, and saved and created thousands of jobs throughout the Ocean State.
Read More »To further spur small business investment and put more Americans back to work, Reed helped pass the Hiring Incentives to Restore Employment (HIRE) Act and the Small Business Jobs Act, which included tax breaks for businesses to hire unemployed workers and purchase new equipment.
Reed has also championed an initiative to give businesses an incentive to keep workers on their payrolls with shorter hours as an alternative to laying them off.
Key Priorities & Accomplishments
- Reed helped pass the Small Business Jobs and Credit Act, establishing a $30 billion lending fund and $12 billion in tax breaks for small businesses.
- To help unemployed people looking for work and provide an additional $30 million per month to Rhode Island’s economy, Reed has led the fight to extend unemployment insurance which directly boosts every state’s economy, at a time when state spending is necessarily constrained. He also joined in the introduction of the Unemployment Insurance Solvency Act to give states greater flexibility in managing their costs without raising taxes on employers.
- To help increase America’s competitiveness in the global marketplace, Reed helped pass the America Competes Act to increase investment in research and strengthen educational opportunities in science, technology, engineering, and mathematics from elementary through graduate school to help the United States fortify its position as a world leader in technology and innovation.
- Reed worked to make Rhode Island eligible for $13.1 million from the State Small Business Credit Initiative (SSBCI) to help restore the flow of credit to small businesses and manufacturers so they can grow and create jobs. This federal funding may be leveraged to pump more than $130 million into Rhode Island’s economy.
The Latest
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RI Receives Over $17 Million to Help Unemployed Find New Jobs
PROVIDENCE, RI - Rhode Island will receive an additional $17 million to bolster the state’s unemployment system and help provide more employment opportunities for Rhode Island workers, the state’s Congressional delegation announced today along with Governor Lincoln Chafee. The fede...
Posted on 9/27/2012 | -
Reed, Secretary Solis Visit Safety Flag Co. in Central Falls
August 29, 2012...
Posted on 8/29/2012 | -
Capital Good Fund receives $81K development grant
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Posted on 8/8/2012 | -
Medicare hike buoys four hospitals
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Posted on 8/7/2012 | -
RI Non-Profit Wins $81,000 Community Development Grant
PROVIDENCE, RI - Capital Good Fund (CGF), a non-profit financial services organization based in Providence, will receive an $81,273 Community Development Financial Institutions Technical Assistance grant to help revitalize low-income communities in Providence and better serve all of Rhode Island.
Posted on 8/7/2012 | -
Federal Funds Help Bristol with Critical Flood-Control Project
BRISTOL, RI - In an effort to protect Bristol from flooding, encourage economic growth, and create jobs, U.S. Senator Jack Reed today joined federal and local officials to celebrate construction of the new Tanyard Brook culvert in Bristol, which will control flooding around the Tanyard Brook watersh...
Posted on 7/30/2012 | -
Reed on Bloomberg's "In the Loop"
Posted on 7/17/2012 |