Job Creation And Unemployment Relief Act Of 2008
Mr. Speaker, I rise in strong support of H.R. 7110, the Job Creation and Unemployment Relief Act, which will provide funding for job creation and preservation initiatives, infrastructure investments, and economic and energy assistance.…
Mr. Speaker, I rise in strong support of H.R. 7110, the Job Creation and Unemployment Relief Act, which will provide funding for job creation and preservation initiatives, infrastructure investments, and economic and energy assistance. This important measure represents our commitment to help hard-working Americans weather these turbulent economic times.
In February, Congress passed the Recovery Rebates and Economic Stimulus for the American People Act, which aimed to inject $150 billion into our economy to revitalize our markets, increase consumer confidence, and protect against recession. This legislation provided rebates to Americans that put money directly into their pockets. While this short-term recovery plan was helpful to American families, our country's economic crisis has since worsened, and additional action by Congress is necessary. In August, 84,000 Americans lost their jobs, making it the eighth straight month that our economy has seen reductions in the workforce. The number of unemployed
Americans is the highest it has been since 1992, and unemployment claims have increased by more than 38 percent this year. Sadly, in my home State of Rhode Island, the unemployment rate has risen to 8.5 percent--the second highest in the Nation. My constituents have reached out to me and the Federal Government because they need help in this struggling economy to refinance their mortgages, pay their home heating bills, secure good-paying jobs, and find affordable health care.
H.R. 7110 begins to answer their call by providing a critical and immediate boost to the many Rhode Islanders, and Americans across the Nation, who are struggling to find work. It provides 7 weeks of extended benefits for those ho have exhausted regular unemployment compensation. This is in addition to the 13-week extension passed in June of this year. Residents in high unemployment Sates, like Rhode Island, may also be eligible for an additional 13 weeks of benefits. In addition this measure provides $500 million for job training, including assistance for dislocated workers programs, youth employment activities, and customized help to those receiving unemployment benefits. This bill will give hard-working Americans another chance to continue their job search and provide for their families.
This bill also includes investments in infrastructure and renewable energy technologies that will have an immediate impact on the economy by creating jobs and meeting existing needs in our country. While Rhode Island's coastline is one of the most beautiful in the Nation, it presents our State with unique infrastructure challenges. H.R. 7110 provides $12.8 billion for highway infrastructure, which is critical to the hundreds of thousands of Rhode Islanders who rely on the safety of our State's highways and bridges. I am pleased that the bill also provides an increase in funding for the Nation's drinking water infrastructure, which has been underfunded by the Bush Administration for the past several years. Three billion dollars is also included to repair and upgrade our schools, $1 billion for repair and construction projects for public housing, and $4.6 billion to upgrade and expand public transportation.
Also included within the stimulus package is a temporary increase in the Federal Medical Assistance Percentage (FMAP) to assist State Medicaid programs. This is particularly important for Rhode Island, which is currently faced wIth a $400 million budgetary deficit fueled in part by unsustainable increases in Medicaid expenditures. These funds are designed to prevent cuts to health insurance and health care services for low-income children and families, as well as generate business activities, jobs, and wages that Rhode Island would otherwise not see.
Our country has faced economic hardships and recessions before, and I have no doubt we will weather this current downturn. However, we must provide Americans with the necessary tools to turn this economy around. I encourage my colleagues to pass this bill and give a hand up to those who are most vulnerable during these trying times.