U.S. Senate Advances Key Jobs Initiative to Spur Hiring
WASHINGTON, DC - By a vote of 62-30 the U.S. Senate advanced a bipartisan jobs bill this evening that will help re-energize the economy and fuel economic growth in Rhode Island.
U.S. Senator Jack Reed (D-RI) voted in favor of the bill, which includes tax breaks for businesses that hire unemployed workers and purchase new equipment. It also extends the Highway Trust Fund, investing in job-creating transportation projects for Rhode Island, as well as expands the Build America Bonds program, which provides low-interest financing for state and local governments to invest in infrastructure upgrades.
"I am pleased that we were able to overcome the Republican filibuster of this legislation and move forward with a bill that will help put more Rhode Islanders back to work. This bill is a good first step and will help spur companies to hire more workers and cut taxes for small businesses. This is just the beginning of a targeted, cost-effective approach to quickly encourage private sector job growth and provide aid to states for critical transportation upgrades," said Reed. "Again, this is a first step and we need to do more to get credit flowing to small businesses and provide additional help for middle class families. I am pleased that several Republicans voted for this jobs package and I hope we can continue to work in a bipartisan fashion."
Tonight's vote was a procedural measure requiring 60 votes to move forward with the bill and sets up a vote for final passage on Wednesday.