FOR IMMEDIATE RELEASE: Tuesday, June 21, 2011
CONTACT: CONTACT: Ian Koski at 202-224-4216

Statement from Senator Coons on Senate’s failure to reauthorize Economic Development Administration

WASHINGTON – U.S. Senator Chris Coons (D-Del.) released the following statement Tuesday in response to the Senate’s inability to overcome a Republican filibuster of a bill to reauthorize the U.S. Economic Development Administration. The bill, S. 782, failed by 49-51 vote.

“The Economic Development Administration has a strong track record of helping create jobs and grow America’s small businesses. It’s been an extraordinary investment — every $1 dollar in EDA grant funding has been shown to attract nearly $7 in private investment. Delaware alone has received more than $5 million in EDA investment over the last two years, helping create or retain more than 1,000 jobs in the First State.

“This bill would have grown our economy and created much-needed jobs, plain and simple. Instead, it became yet another casualty of the predictable and sad pattern of obstructionism that has ground this body to an unproductive standstill. The Economic Development Administration has broad bipartisan support, but today one party felt it more important to play partisan politics and refused to vote to move the bill forward.

“The amendment to end tax subsidies for corn-based ethanol, which I supported last week, was another casualty of this unfortunate vote. Ending the Volumetric Ethanol Excise Tax Credit was important to Delaware’s poultry farmers and would have been an important step forward as we look for savings to help curb our nation’s staggering deficits.”

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