Jeff Bingaman: “I rise today to speak in favor of the Rebuild America Jobs Act. I, first, just clarify for folks, because it is a little…”

“I rise today to speak in favor of the Rebuild America Jobs Act. I, first, just clarify for folks, because it is a little confusing, we have had several proposals to create jobs that have come to the floor in the last several weeks, and they have similar names. The one before us today is the Rebuild America Jobs Act, and it is a portion of the larger American Jobs Act that President Obama proposed and set out for the Congress to consider in September. Let me talk first about that larger bill which the President proposed. This American Jobs Act the President proposed would have a very significant and beneficial impact on my State of New Mexico. Under that legislation, there would be payroll tax cuts for about 40,000 businesses in my State. There would be an expansion of payroll tax cuts for workers that would provide a typical household in New Mexico, having a median income of $44,000, with a tax cut of about $1,360 per year. There would be support for up to 2,600 construction jobs in upgrading public schools. There would be $20 million to revitalize vacant and foreclosed businesses and homes. There would be over $49 million for community colleges in New Mexico. There would be unemployment insurance reforms that could help put 32,000 unemployed New Mexicans back to work.…”