Job Creation and Unemployment Relief Act of 2008

JOB CREATION AND UNEMPLOYMENT RELIEF ACT OF 2008 -- (Extensions of Remarks - September 28, 2008)

* Ms. McCOLLUM of Minnesota. Mr. Speaker, I rise in strong support of the Job Creation and Unemployment Relief Act and congratulate Speaker Pelosi and Chairman Obey for providing important relief to American families struggling under current economic conditions.

* At a time when taxpayers are being asked to rescue Wall Street, it is imperative that Congress also recognize the challenges facing Main Street. Our economy has lost jobs for eight straight months with 605,000 American jobs lost this year. This summer Minnesota's unemployment rate reached its highest level in 22 years. Putting Americans back to work is critical to the recovery of our economy and to the health and safety of families.

* H.R. 7110 invests in families by creating good-paying jobs through new infrastructure projects. These investments have an immediate effect on the economy by putting people to work and will have a long term effect with improvements to our roads, bridges and schools.

* Other jobs will be created through new energy technologies. New loans to the auto industry and investment in new renewable energy technologies will both put people in good paying, stable jobs but will also move this country towards energy independence.

* For those hit hardest by economic conditions, this legislation provides an extension of unemployment benefits for those still searching for a job, including 20,000 Minnesotans. It also includes additional food assistance to help deal with rising food prices and a temporary increase in Medicaid payments for states so they can continue to provide health care coverage for children and families. To address the cost of fuel and growing demand for public transportation, this bill invests in transit to improve access and afford ability of buses and trains.

* It is absolutely unacceptable for members to find the political will to bail out Wall Street at a cost of $700 billion to taxpayers and at the same time claim that we do not have the resources to invest one-tenth of that in American families. This is a prudent, targeted package and it is critical to our economic recovery. I urge my colleagues to join me in supporting H.R. 7110.

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