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Update from Senator Bob Corker
March 24, 2012

Marking the Two-Year Anniversary of the President's Health Care Law

Senator Corker marked the two-year anniversary of the president's health care law yesterday.  On March 23, 2010, President Barack Obama signed the health care bill into law.  Corker voted against the bill when it passed the Senate and has supported legislation to repeal it.

"I haven't met a thinking person on either side of the aisle who believes this law will work as passed.  There's no question that it increases health costs for individuals, states and businesses, and its expense is going to be very harmful to our country," Corker said.

TennCare estimates the health care law will increase TennCare enrollment by 242,291 at an additional cost to Tennessee of $1.125 billion from 2014-2019, or $225 million per year.

Knoxville News Sentinel: Greg Johnson: Repeal and replace health care law

Congratulating Volkswagen on Addition of 800 New Jobs at Chattanooga Plant

On Thursday, Senator Corker congratulated Volkswagen following the announcement that its Chattanooga plant will add 800 new jobs.

"I congratulate Volkswagen for its tremendous success and for the addition of 800 new jobs to meet growing demand," said Corker.  "Volkswagen is a brand that is selling all across America because it is made in America, right here in Chattanooga.  I am thrilled for them.  I am thrilled for our community, and I am thrilled for southeast Tennessee and all that this announcement means to so many people."


***click image to view video***

Rally Point Veterans Assistance Event in Knoxville Wednesday, April 4th

Senator Corker, Knoxville Mayor Rogero, and Knox County Mayor Burchett, Thursday announced "Rally Point," an event to connect area veterans and their families with services in their communities.  The event, taking place on Wednesday, April 4, at the Jacob Building at Chilhowee Park, will feature 36 agencies and organizations with information for veterans on a number of resources, including VA claim assistance, vocational rehabilitation, education, employment, mental health, housing and business loans.

"This event is intended to provide veterans and their families with a 'one-stop shop' to make it easier for them to connect with local resources and get the help they need," said Corker.  "This is about serving those who have served our country.  I thank Mayor Rogero, Mayor Burchett and all the organizations involved for helping us organize this event, and I hope it will be a great resource for Tennessee veterans that we can replicate in other parts of the state."

Rally Point is free and open to all Tennessee veterans.  For more information, please visit http://bit.ly/GJKP21.

WBIR.com: Rally Point veterans' event announced

Time to Fix the Volcker Rule

Senator Corker joined Senate colleagues in cosponsoring legislation to postpone implementation of new banking regulations known as the "Volcker rule" until regulators have completed their work. 

"The Volcker rule as crafted puts private businesses at a disadvantage in raising capital, and this bill is proof that there is consensus among both parties that something needs to be done to fix it," Corker said.  "While the Volcker rule needs an overhaul to address the core weaknesses in the financial system without hurting the economy in the process, this bill at least gives more time to make those necessary changes."

Federal Reserve Chairman Ben Bernanke recently testified that the inter-agency final rule will likely not be ready by the July 21st effective date imposed in the Dodd-Frank financial reform law.  By extending the deadline, financial institutions and markets will be able to comply with final rules rather than be forced to guess what those regulations might be.

In a letter to federal banking regulators earlier this year, Corker warned about how the "Volcker rule" as drafted goes too far in restricting banking operations that will increase the cost of credit for businesses, making it more difficult and expensive for them to grow and create jobs.

For more information, please visit: http://bit.ly/GOFOoi.

CQ: Bipartisan Bill Would Bump 'Volcker Rule' Implementation by One Year
National Journal: Lawmakers Seek to Delay Deadline for Enforcing Volcker Rule
Bloomberg: Volcker Rule Delay and Simplification Gains Support in Congress