Senate Proceeding on Jul 30th, 2009 :: 3:23:55 to 3:32:25
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3:23:55 to 3:32:25( Edit History Discussion )
Speech By: Jack Reed

3:24:04 to 3:24:24( Edit History Discussion )

Jack Reed: quorum call: a senator: madam president? the presiding officer: the senator from rhode island. mr. reiisla. mr. reed: i ask unanimous consent the call of the quorum be dispensed. .the presiding officer: without objection, so ordered. mr. reed: i rise in opposition to senator ensign's amendment. this amendment would fund the

3:24:25 to 3:24:48( Edit History Discussion )

Jack Reed: unemployment fund by taking unobligated money if the recovery package. i think the major tools we're using to maintain employment and grow it is the recovery package. in my home state our state used about $200

3:24:49 to 3:25:09( Edit History Discussion )

Jack Reed: million which is a significant that they didn't have to lay off workers which would have increased the demand on unemployment; that they could maintain services. all of this is a result of the stimulus package, the recovery package. we're beginning to see the

3:25:10 to 3:25:30( Edit History Discussion )

Jack Reed: momentum pickup. for example, with respect to weatherization, rhode island initially received some funds but then the bulk of the funds would be received based upon submission of their plan. the plan is underway. so the state will

3:25:31 to 3:25:53( Edit History Discussion )

Jack Reed: roughly, $20 million coming into the state over the next few weeks or months to get people to work doing weatherization. not only does this help our environment but it will provides employment particularly for those most hard hit, the construction industry. so to take this money now and to

3:25:54 to 3:26:16( Edit History Discussion )

Jack Reed: put it into the trust fund is counterintuitive and counterproductive. on those grounds alones i think we seriously have to look at this amendment. the other issue, i think, that should be mentioned, among several more is that c.b.o. has indicated this approach of

3:26:17 to 3:26:38( Edit History Discussion )

Jack Reed: bill has no affect on their baseline because it's an enter governmental transfer that the underlying legislation is proposing. this issue is more of a comment, perhaps, on the than trying to effectively stem unemployment and to p

3:26:39 to 3:26:59( Edit History Discussion )

Jack Reed: funds for those who are unemployed. this issue of unemployment is probably the most significant one we face in the country, particularly in my home state. we know joblessness is rising. it's 12% in rhode island. rhode island and 18 other states have had to borrow $12 billion

3:27:00 to 3:27:21( Edit History Discussion )

Jack Reed: to keep the state unemployment trust fund solvent. rhode island has borrowed more than $80 million itself to recover unemployment and over the next few months they will draw on a line of credit of keep paying the benefits which are absolutely critical to the families in the state who have lost their jobs so

3:27:22 to 3:27:44( Edit History Discussion )

Jack Reed: suggested in the underlying legislation, rhode island and many other states would look to a real crisis in which they would fail to be able to respond to this need for compensation. so on the

3:27:45 to 3:28:05( Edit History Discussion )

Jack Reed: pthemoney comes from, the recovery act, the biggest tool we have trying to keep people working and employed more people, if that doesn't make sense, and not making this transfer as suggested by the underlying legislation, would imperil state's ability to provide unemployment compensation in a

3:28:06 to 3:28:28( Edit History Discussion )

Jack Reed: market that is still very, very weak -- the labor market. but we have to do more and we have to be more innovative in our approach to one of the things that my state has done with their own resources is a work share program. rhode island and 17 other states are using their resources to

3:28:29 to 3:28:49( Edit History Discussion )

Jack Reed: provide workshare andt's a very effective program. what it does, it allows an loir to cut back on the -- an employer to cut back on the number of hours a worker is engaged in and that worker is qualifying for a partial unemployment check, not the full check so it does not put that much of a drape on the trust fund.

3:28:50 to 3:29:10( Edit History Discussion )

Jack Reed: part of the conditions island maintain the benefits the worker is enjoying so it is really a win-win-win. firs their health care because they must maintain the benefits. they are still employed so there is a continuity on the factory

3:29:11 to 3:29:32( Edit History Discussion )

Jack Reed: floor or the office of workers. and, third, the state trust fund is lessened. one of the things that is particularly appropriate to mention when it comes to the unemployment trust funds, this is a program

3:29:33 to 3:29:53( Edit History Discussion )

Jack Reed: bang for mark zander, a well renowned economist, indicated for every dollar of the unemployment system we got $1.69 back. that makes sense. people who are getting unemployment funds are using them right away.

3:29:54 to 3:30:17( Edit History Discussion )

Jack Reed: they're going into the economy with their other funds to buy the food, the necessity of lif that they need. this has a stimulus effect on the economy, and that's another reason why i think we have move very aggressively. but i would like to broaden this concept of work-share, which has been so effective in rhode island.

3:30:18 to 3:30:38( Edit History Discussion )

Jack Reed: and to ensure that we have a system that would provide some federal support to those that are engaged in again, it is not only an efficient program. it is very popular with industry and business in rhode island.

3:30:39 to 3:30:59( Edit History Discussion )

Jack Reed: i had webbing plant and they have engaged the number of companies has gone up dramatically given the economic recession. and at this company i listened to a woman who worked there with her husband and they benefited with this program and she said pointblank, without it, we would have lost our health care and we

3:31:00 to 3:31:20( Edit History Discussion )

Jack Reed: would have lost our home. so wean do some more when it comes to the fle flexibi respect to unemployment. but we have to get this legislation passed immediately. over half a million workers will exhaust their benefits by the

3:31:21 to 3:31:41( Edit History Discussion )

Jack Reed: end of wi end of the year. this is of americans, and we need to provide them the support of the unemployment system. and as, as i indicated before, this is a way in which we can not only moderate the crisis of unemployment for families, but

3:31:42 to 3:32:02( Edit History Discussion )

Jack Reed: also to -- to stimulate our economy. in fact, in that sense it complements the rovery act. and to take away recovery act to place into this would blunt the overall macroe need to get this economy moving again.

3:32:03 to 3:32:23( Edit History Discussion )

Jack Reed: the unemployment levels today are unacceptable, particularly in my state of rhode island. it's the number one concern. and related to unemployment, for many people in my state, the loss of health care, so we have to move aggressively on health care reform also. but we have to act. and we can act and

3:32:24 to 3:32:25( Edit History Discussion )

Jack Reed: and i would urge my colleagues