On the recordDecember 13, 2010
Mr. President, about 2 years ago, our economy was on the brink. One of the first things we did with our new President was to enact the American Recovery and Investment Act. We did so to jump-start our economy, and we did so to create jobs. In the 2 years since, our economy has created and sustained more than 3.5 million jobs--3.5 million more than would have been available had we not taken that action. The economy is now starting to move in the right direction, but we still have a long way to go. The positive momentum in the economy is fragile. We need to work tirelessly to protect it. Our first priority must be to create more jobs. The lower tax rates enacted in 2001 and 2003, along with a number of other tax provisions, are set to expire at the end of this year. If we do not act, taxes will go up. In addition, last month, the emergency Federal unemployment insurance programs expired. If we don't act, then by the end of next month 2 million Americans will be without the critical assistance they will need. That is help they will need to put food on the table and keep a roof over their head. The tax cuts and unemployment insurance both have a critical effect on the middle-class families, our economy, and on jobs. A little more than a week ago, the Senate voted on two amendments that would have extended these tax cuts for the middle class and unemployment insurance. Our amendments would have focused those extensions on the most effective ways to create jobs.…





