|
Obama's Economic Plan
On Thursday, January 8, 2009 President-elect Barack Obama delivered a speech on his economic stimulus plan at George Mason University in Virginia. Obama invited a delegation of U.S. Mayors, led by Miami Mayor and U.S. Conference of Mayors President Manny Diaz, and including Trenton Mayor Douglas Palmer, Louisville Jerry Abramson, Akron Mayor Don Plusquellic, Charleston Mayor Joseph Riley, New York Mayor Michael Bloomberg, Providence Mayor David Cicilline, Albuquerque Mayor Martin Chavez, Columbus (OH) Mayor Michael Coleman, Philadelphia Mayor Michael Nutter, Salt Lake City Mayor Ralph Becker, Washington, D.C. Mayor Adrian Fenty, Columbia (SC) Mayor Bob Coble, and Jacksonville Mayor John Peyton to join him on Thursday for the announcement of his plan.
House Speaker Nancy Pelosi (CA) outlined the process for drafting an economic stimulus package, promising markups and a conference with the Senate, as Obama stressed the need for quick action to stimulate the failing economy in his address. Markups in at least the House Appropriations and Ways and Means Committees are likely the week of January 19, with the bill coming to the floor the following week. Pelosi said she wants the package through the House by the end of January, and that the Senate will work on its own version with the hope to reach a conference agreement and clear the legislation by mid-February.
The plan, which has yet to be unveiled, is likely to total about $775 billion dollars, according to Obama's advisers. It would include a mix of tax breaks for businesses and the middle class, in addition to robust spending for public works, energy, health care and education. The President-elect anticipates saving or creating approximately 3 million jobs over the next few years with his plan. In his speech, Obama outlined that much of the funding would go toward alternative energy production, modernization of over 75% of federal buildings, medical records' computerization, school infrastructure, and broadband services expansion.
Obama met with Senate Minority Leader Mitch McConnell (KY) and other congressional leaders on Monday, January 5 to discuss his plan. McConnell was pleased with the increasing size of the expected tax relief portion of the package, and predicted widespread support from the Republican party.
Senate Stimulus Efforts
On Tuesday, January 6, 2009 Senate Majority Leader Harry Reid (NV) released a stimulus package for the 111th Congress -- Jobs Creation, Economic Growth, and a Strong Middle Class (S 1). It is meant to create jobs, restore economic growth, and strengthen America's middle class through measures that modernize the nation's infrastructure, enhance America's energy independence, expand educational opportunities, preserve and improve affordable health care, and provide tax relief. Mark up of the bill can occur as early as next week.
Senate Finance Chairman Max Baucus (MT) said his committee will meet to mark up a draft stimulus bill the week of January 19, 2009. Though in developing stages, Baucus' package will entail a housing component and tax provisions to help reduce foreclosures and stabilize the market. Current efforts appear to be focused on $188 billion in individual tax cuts (including a payroll tax credit), $76 billion in tax breaks for businesses, nearly $50 billion in tax related assistance for states, and $10 billion for the expansion of the renewable energy tax credits. The committee is also considering providing as much as $80 billion to states to help with the costs of Medicaid and unemployment insurance.
Senate Majority Leader Harry Reid (NV) said Democrats would caucus again on the plan on Sunday afternoon, January 11, after a planned vote on a lands bill.
Frank Seeks Guidelines on Second Half of Bailout
The House may vote next week on legislation to release the second half of the $700 billion financial industry bailout. Financial Services Committee Chairman Barney Frank (MA) and Majority Leader Steny Hoyer (MD) said they would like to see a bill by the end of next week, although legislation has yet to be introduced. Their goal is to assure that the Obama Administration meets certain conditions, such as those related to improving the lending process and payment of dividends, by adding restrictions on how the remaining $350 billion will be spent. A committee hearing has been rescheduled for January 13th, at the request of the Obama transition team, to further explore bailout spending.
Solis Senate Confirmation
Representative Hilda L. Solis (CA) is meeting with the Senate Health, Education, Labor, and Pensions Committee on Friday, January 9, 2009 for consideration of her nomination for Secretary of the Department of Labor in the Obama Administration. She is expected to face pointed questions, particularly by Republicans, regarding her pro-union and pro-worker stance on labor-related issues. In Congress, Solis has been recognized for her efforts to increase the minimum wage and fund job training to prepare workers for a green economy. Obama sees her as key in his pledge to create jobs through investments in sustainable industries and infrastructure.
McKeon Announces Education and Labor Committee Republican Members
Representative Howard P. "Buck" McKeon (CA), the senior Republican on the U.S. House Education and Labor Committee, announced the lineup of Republican members selected to serve on the committee for the 111th Congress on January 9, 2009.
Newly-elected members joining the committee are: Rep. Brett Guthrie (KY), Rep. Bill Cassidy (LA), Rep. Tom McClintock (CA), Rep. Duncan D. Hunter (CA), and Rep. Phil Roe (TN).
Returning to the committee are Representatives: Thomas E. Petri (WI), Peter Hoekstra (MI), Michael N. Castle (DE), Mark E. Souder (IN), Vernon J. Ehlers (MI), Judy Biggert (IL), Todd Russell Platts (PA), Joe Wilson (SC), John Kline (MN), Cathy McMorris Rodgers (WA), Tom Price (GA), Virginia Foxx (NC), and Rob Bishop (UT).
McKeon congratulated the new and returning Republican members of the committee on their appointments, and thanked two departing members - Reps. Charles Boustany (LA) and Kenny Marchant (TX) - for their years of service.
McKeon Outlines Education and Labor Priorities for Next Congress
On Monday, January 5, 2009 Representative Buck McKeon (CA) announced the U.S. House Education and Labor Committee's priorities for the 111th Congress, which included the following:
Strengthening job training to bolster the economy
In a dynamic, global economy, American workers need to be able to retrain for the careers of the 21st century. Republicans are strongly committed to reforming job training and placement initiatives under the Workforce Investment Act to make services for job seekers more accessible and results-oriented.
Enhancing health care and retirement security for workers
Republicans are committed to providing health care and retirement options to workers without imposing big-government directives that limit options while raising costs.
Providing flexibility for working families
In today's busy world, families are facing greater demands on their time than ever before, and yet too often, they remain tied to rigid work rules written decades ago. Republicans will pursue new options for workers and employers to create a more flexible workplace.
DOL Releases December Unemployment Rates
The unemployment rate hit a 16-year high in December, the Labor Department reported on Friday, January 9. The 7.2 percent rate is the highest since January 1993.
Click here to view the report.
|
|
New from Automatic Dating Processing, Inc. (ADP)
The ADP National Employment Report
Statistics from the ADP Employer Services survey suggest that private sector unemployment rose by 693,000 in America in December. The unwelcome news comes ahead of the official announcement of employment figures from America’s Bureau of Labor Statistics on Friday, expected to show a similarly negative trend.
The traditional Christmas boost to employment was overshadowed this year by significant economic weakening in America, which has hit small and medium-sized companies hard. With companies anticipating a dramatic fall in profits over 2009 as the credit crisis rumbles on, payroll numbers are being slashed. Smaller companies cut their workforce by 281,000 in December, while medium-sized businesses reduced headcount by 321,000.
Click here to view the article.
New from Public Private Ventures (PPV)
Targeting Industries, Training Workers and Improving Opportunities: The Final Report from the Sectoral Employment Initiative
by Anne Roder with Carol Clymer and Laura Wyckoff
In a departure from traditional strategies, some workforce organizations have begun to implement services and activities that focus on the needs of specific industry sectors.
By identifying local sectors that lack workers—which might range from health care to manufacturing to construction—these organizations can help low-income workers acquire the
specific skills they need to fill available positions. To explore the potential of this approach, P/PV launched the Sectoral Employment Initiative (SEI) in 1998, with support
from the Charles Stewart Mott Foundation. This final report, released in November 2008, relies on data gathered during interviews with staff members at the SEI organizations
and other key players in the targeted sectors, site visits, reviews of program documentation, and baseline and follow-up interviews with program participants focusing on a range of outcomes, including employment, earnings, education, housing and household income.
The report presents key findings and explores some of the challenges sectoral programs encountered.
Click here to see the report.
|
