Jon S. Corzine: “today we are talking on a series of issues where credibility is at stake. Frankly, I think the credibility of the Senate…”

“today we are talking on a series of issues where credibility is at stake. Frankly, I think the credibility of the Senate is at stake with regard to this jobs initiative we are debating on the floor of the Senate today. I understand it is very possible we will not be able to move this most important legislation that is about creating jobs in an economy where Americans are not getting access to available opportunities to protect their families, help their families, or improve their quality of life. We have seen far too little job creation. For us to back away from this initiative today would be extremely disappointing and, in fact, lead to a roughly $4 billion tax hike for American business and for job creation. I think it fits a pattern of failure and unfortunate emphasis with regard to the state of our economic affairs in this country. Apparently, we do not want to take a vote on providing overtime for 8 million Americans. That is what is keeping us from dealing with a fundamental jobs program. We already overwhelmingly voted in this body to pull back from regulations that would strip overtime pay for 8 million working Americans. Because we do not want to go on record about that, we are going to allow a $4 billion tax hike that is going to end up undermining jobs. It is just the latest in steps of failed economic policy.”