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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Reed Speaks on Income Inequality and Budget Debate
Madam President, I rise today to speak about the real-world consequences of failing to achieve a fair and balanced solution to avert the automatic tax hikes and spending cuts that would otherwise occur at the end of December--the end of this month. Failing to continue unemployment insurance, allowing tax...
Posted on 12/14/2012 | -
Reed Seeks Balanced Approach to Budget Plan
Posted on 12/13/2012 | -
Reed Speaks on the need to pass the Middle Class Tax Cut Act
Madam President, we all recognize the country faces many challenges. Too many of our neighbors are still looking for work, and too often those with a job have not seen a raise in quite some time. Indeed, for many years people in Rhode Island and across the country have a growing sense that there is too much focu...
Posted on 12/5/2012 | -
42 U.S. Senators Seek to Preserve Unemployment Insurance
In an effort to boost the economy and prevent 2 million Americans from abruptly losing their jobless benefits at the end of the year, U.S. Senator Jack Reed (D-RI) and 41 of his Senate colleagues are strongly urging the preservation of federal unemployment insurance (UI) programs.
Posted on 12/3/2012 | -
Reed Calls for Expanded Job Training & Back-to-Work Initiatives
In an effort to accelerate economic growth and connect the unemployed with job opportunities, U.S. Senator Jack Reed (D-RI) is continuing his call for more effective, integrated employment and training programs and for Congress to act during the lame duck session to prevent 2 millio...
Posted on 10/5/2012 | -
Reed Impressed with Communities Initiative to Grow and Revitalize Broadway Corridor in Newport
NEWPORT, RI - Today, U.S. Senator Jack Reed toured lower Broadway in Newport with local merchants, community leaders, and officials from the Newport County Chamber of Commerce to discuss the progress being made in revitalizing Broadway and making streetscape enhancements and public infrastructure up...
Posted on 10/2/2012 | -
Reed Tours Broadway Corridor Revitalization in Newport
October 2, 2012...
Posted on 10/2/2012 |