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Highlights of Senator Clinton's Economic InitiativesJanuary 7, 2003
Floor Statement of Senator Hillary Rodham Clinton on Clinton-Nickles Unemployment Insurance Extension
http://clinton.senate.gov/news/statements/details.cfm?id=233781
March 3, 2004
Keep America Working: Restoring Jobs to Ensure American Prosperity
http://clinton.senate.gov/news/statements/details.cfm?id=233755
February 10, 2005
Clinton Calls for Common Sense Action on Mounting Trade Deficit
http://clinton.senate.gov/news/statements/details.cfm?id=233855
Voted NO on $40B in reduced federal overall spending.
Vote to pass a bill that reduces federal spending by $40 billion over five years by decreasing the amount of funds spent on Medicaid, Medicare, agriculture, employee pensions, conservation, and student loans. The bill also provides a down-payment toward hurricane recovery and reconstruction costs. Reference: Work, Marriage, and Family Promotion Reconciliation Act; Bill S. 1932 ; vote number 2005-363 on Dec 21, 2005
Senator Clinton's Mission Statement:
Economic Development
This past September, I helped launch an Economic Development Initiative to Promote Small Businesses in the Finger Lakes region. The “Finger Lakes Trading Cooperative” program is a public-private partnership that brings together local business, education, and community leaders to create employment and economic opportunities in the area. The Cooperative is providing businesses in Livingston and Wyoming Counties with needed technology, financial support such as micro-credit loans, and strategic business training marketing plans that fully utilize the power of the internet.
Also in September, I participated in launching a pilot project, “Access to Business Capital” (ABC) that will provide critical resources to small and micro businesses in Yates County. ABC is designed to give small businesses and entrepreneurs often considered "unbankable" the financing and training they need to develop and succeed.
I was gratified when a measure I co-authored in the Jumpstart Our Business Strength (JOBS) Act was signed into law in October. The provision will expand the Renewal Zones in several areas of Upstate New York, including Rochester, Jamestown, Buffalo, Niagara Falls, Schenectady and Syracuse. This creates new incentives for business and job creation, because businesses in the Renewal Zones are eligible for a new wage credit, greater expensing for the purchase of new equipment, and lowered capital gains rates for investments in buildings and properties.
More broadly, I have contended for some time that the way to brighten our economic future is to bring all of our talents together and tackle the problems we face as one New York. I am delighted that so many across this state agree with that message, and I am encouraged that we are finally beginning to see the fruits of our effort.
One of the ways we are bringing people together is the private sector venture called New Jobs for New York. This not-for-profit effort, which I have supported from its inception and which I serve proudly as chair of its advisory board, brings New York’s investment dollars to inventors and innovators across this state.
In the past six months, we hosted a New Jobs for New York conference at the Rochester Institute of Technology on alternative energy opportunities and a conference at Syracuse University on the homeland security industry. These meetings put the leading inventors and innovators in the field in the same room with high-dollar investors who can make good ideas a reality – bringing jobs and renewed prosperity to our state. I am delighted by the progress we are making with this initiative, but I believe we can do more.
I also introduced a bipartisan legislative package aimed at encouraging public and private sector cooperation that will foster strong and sustained economic growth.
Investment in the Workforce
Government can play an active role in ushering in prosperity by addressing our changing economy and altering our strategy for success. The first way we can do this is by investing in our work force and, therefore, I have supported expanding Trade Adjustment Assistance (TAA) to workers in the service industry. TAA provides retraining, income support, a health insurance tax credit, and other benefits, but the program has always been limited to workers who produce goods, not services. That made sense back in 1962 when the program began, but it does not make sense today, when eighty percent of non-farm U.S. jobs are in the service sector. We need this resource for all of our workers.
I have also been a strong supporter of the Manufacturing Extension Partnership (MEP) program. In New York there are over 26,000 small and midsize manufacturers, and this critical program has helped thousands of these businesses adopt and implement new technologies and productivity strategies. The MEP program provides the assistance our manufacturers need to remain competitive, and I will continue to remain a strong advocate for this program in the Senate.
The second way we can improve our strategy for success is to prepare our infrastructure to compete in the global marketplace and I have worked very hard to ensure that all of New York is wired with next-generation broadband technology. Last year, I secured Senate passage of tax incentives for telecommunications companies to deploy broadband networks in our rural and upstate areas. This technology will allow small businesses in places like Canton and Corning to compete for customers around the globe.
I will continue to work on other forward-looking initiatives that spread advances in technology, while exploring opportunities in burgeoning fields like bio-informatics, nanotechnology, and alternative energy.
Rebuilding New York City
In New York City, I have continued to work to advance the economic revitalization of Lower Manhattan. In addition to the $20 billion aid package enacted shortly after September 11th, I worked to extend the Liberty Zone tax benefits including a bonding proposal that will generate nearly $8 billion in new investment and will enable New York City’s businesses to continue their economic recovery.
While many challenges of the rapidly changing economy still lie ahead, I believe that New York’s workers, businessmen and women are among the most talented and innovative in the nation. I will continue to work to ensure that New York workers have the skills and tools they need to succeed, and I will continue to promote an agenda that encourages entrepreneurship, creates jobs and fosters new opportunities.
For current economic news go here:
http://clinton.senate.gov/issues/economy/
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