Creating jobs continues to be my top priority.
The economy has turned back from the brink and is growing, but the recovery is far too modest and more needs to be done to address persistent unemployment.
Following the financial collapse, Congress passed the American Recovery and Reinvestment Act (Recovery Act), which is largely credited with preventing a second Great Depression. The Recovery Act directed funds to cities, states, non-profits and companies to make critical investments to keep jobs and put people to work. It also provided middle-class tax relief that helped 95 percent of families. Moody’s top economist, Mark Zandi, estimated that the Recovery Act raised real GDP by 3.4 percent and created 3 million jobs, or, stated another way, without the Recovery Act GDP would have been 6.5 percent lower in 2010.
The Recovery Act helped, but the recession was deeper than previously thought and we are years removed from its enactment. Therefore, I continue work on legislation to help create jobs, including efforts to help small businesses expand and get access to credit and to help state and local governments rebuild schools and public hospitals, while being mindful of the national debt. I have supported numerous efforts by Democrats to move jobs legislation. I am also a strong supporter of the Community Development Financial Institution Fund, which provides support to underserved and economically depressed communities, which is exactly where capital is most needed and transformative.
To ensure that our economy will continue to rebound, we must look forward and lay the groundwork so that that America leads in the 21st Century economy. This includes a comprehensive clean energy policy that will create jobs at home that cannot be outsourced. It includes investments in updated U.S. infrastructure, like updating crumbling bridges and roads and supporting high-speed rail that will connect our cities and our people. I will continue my commitment to support innovative research in the Milwaukee area to employ high-skilled labor, as well as reinvigorating our industrial base to take advantage of Milwaukee’s proud tradition of labor and manufacturing.
Milwaukee’s workforce is among the best in the nation. And standing up for our workers is important to make sure that everyone benefits from economic recovery, not just CEOs.