Jobs and Economic Development |
I am a founding member of the bipartisan Congressional Jobs NOW! Caucus. I joined for one reason: to advocate for jobs, jobs and more jobs. Tennessee has one of the highest unemployment rates in the nation, especially among women and minorities. I am a member of the Transportation and Infrastructure Committee, I advocate for investments in transportation and infrastructure improvements because they are a proven and effective way of putting people back to work and are crucial to long-term economic development. Memphis is America’s distribution hub and a major tourist destination for people around the nation and the world. Investing in our roads, runways, rivers and rails is crucial for the 9th District’s economic success. As a member of the Transportation Committee’s Aviation Subcommittee, I promote policies that will protect jobs at FedEx, the largest private employer in Memphis. Additionally, through my advocacy on the Railroads Subcommittee, I have received assurances from the Federal Railroad Administration that the Little Rock to Memphis high-speed rail feasibility study will be conducted. Jobs for Urban Sustainability in America Act In March 2010, I introduced H.R. 4740, the Jobs for Urban Sustainability in America Act which would allocate $10 billion in grants to cities with double digit unemployment rates for nine consecutive months to provide job training, public works, and economic development programs. The funding will be administered by the Secretary of Labor and Secretary of Commerce from funds made available through TARP under the Emergency Economic Stabilization Act of 2008 that currently remain unobligated. This legislation is designed to help Americans struggling to find work by investing newly returned TARP dollars into public works and job training programs for unemployed workers. The public needs immediate assistance and Congress must do everything possible to help those who are suffering in this economy. This bill would support job training and economic development programs that will pull Americans in our urban core back to their feet at a time when the unemployment rate is at its worst. Equal Employment for All Act In July 2009, I introduced H.R. 3149, The Equal Employment For All Act which would give some of our most vulnerable, “credit challenged” citizens – students, recent college graduates, low-income families, senior citizens, and minorities – the opportunity to begin rebuilding their credit history by obtaining a job. Far too often, employers turn down “credit challenged” applicants because they have erroneously linked credit scores to potential job performance. According to a recent report, one-third of individuals making less than $45,000 a year have poor credit scores caused by the result of bankruptcies, loan delinquencies, divorce, medical problems or unemployment. The use of credit checks to determine employment is sadly a growing trend and a dangerous one. Despite the fact that several studies by well respected, unbiased groups have confirmed that credit history does not predict job performance, currently 43% of all employers admit to performing credit checks on potential employees. This would appear to be counterproductive during a time of record unemployment in America. HR 3149 would prohibit the use of consumer credit checks by employers as part of the hiring or firing process, unless the job involves national security, FDIC clearance, or significant financial responsibility (such as bank managers, loan officers, or financial managers). The HIRE Act In March 2010, I was proud to support the Hiring Incentives to Restore Employment (HIRE) Act . This new law will provide businesses with an exemption from Social Security payroll taxes for every worker hired in 2010 who has been unemployed for at least 60 days. It will also provide an additional $1,000 income tax credit for every new employee retained for 52 weeks. It will extend the American Recovery Reinvestment Act provisions that double the amount small businesses can immediately write off their taxes for capital investments and purchases of new equipment made in 2010 from $125,000 to $250,000. This will help small businesses make the investments they need to grow and hire more workers. Jobs for Main Street Act
In December, I voted to support H.R. 2847, the Jobs for Main Street Act, which would redirect $75 billion in Troubled Asset Relief Funding (TARP) to fund infrastructure and job investments that will further stabilize jobs and provide long-term extensions for unemployment insurance, the COBRA health care subsidy, Medicaid relief to the states and expanded eligibility for the Child Tax Credit. By redirecting billions that were used to bail out Wall Street, local communities can use them to hire more teachers, first-responders or provide employment opportunities to young people. This bill also provides funding for job training programs that will help unemployed or displaced workers get a job in high-tech or ‘green’ industries – such as with companies like Sharp Solar. Summary of the Jobs For Main Street Act
The following investments are paid by redirecting $75 billion in TARP funding that was approved by Congress. The Senate is expected to act on this legislation next year.
Along the same lines, I am also a cosponsor of the Put America Back to Work Act, which would invest in a variety of infrastructure and revitalization projects to paint and repair schools; clean up abandoned and vacant properties; expand emergency food programs; increase staffing in Head Start and other early childhood programs; and, renovate parks, playgrounds and other public spaces. I have also cosponsored the Community Regeneration Act, which would provide assistance to communities for turning vacant and abandoned properties into productive uses. |