On the recordFebruary 15, 2011
While I understand and support the need to establish long-term fiscal responsibility, to reduce spending, to reduce the deficit, and to grow the economy, H.R. 1 is not the way. It takes a meat ax to American competitiveness and actually destroys jobs. That's why I introduced the Build America Bonds Now to Create Jobs Act, legislation to extend the successful Build America Bonds program, a jobs bill. Creating jobs grows the economy, encourages American innovation, and positions us to remain the global economic leader. During the past 2 years, $4.4 billion from the Recovery Act leveraged $181 billion worth of projects to construct and repair schools, bridges, roads, and transit systems in more than 2,270 projects in every State of the Union. According to Moody's Analytics chief economist and John McCain's 2008 Presidential campaign adviser, infrastructure investments in the Recovery Act resulted in 8 million new or protected jobs that otherwise would have been lost in 2009 and 2010.
