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Congressional Briefs: Cummings, Fudge, Lee, Waters
Statement from CBC Chairwoman Barbara Lee on Recent Unemployment Numbers
By Staff
Todays jobs report is an encouraging indicator that our economy shows signs of improving now that the unemployment rate is below 10 percent. However, the unemployment numbers for African Americans have steadily increased over the last five months and now stand at a staggering 16.5 percent. Other communities of color have only seen slight decreases.
African Americans faced the highest rates of unemployment before the current economic downturn, and this recession has only exacerbated those disparities. There remains an urgent need to create jobs and stimulate the economy for the unemployed. It is also imperative that those efforts target communities with the highest rates of chronic unemployment.
The House of Representatives has already passed a jobs bill, which includes key provisions sought by members of the CBC directing funds to communities hardest hit by this recession. This was an important first step, but much work remains in order to close the economic gaps among all Americans.
The Senate is expected to consider a jobs bill next week, which I urge them to pass without delay and retain the provisions put forth by the Congressional Black Caucus. As our nation continues down the path toward economic recovery, we must continue to consider other proposals to improve the conditions of all Americans.
Maxine Waters: Minorities Continue to Face Unemployment Crisis
Congresswoman Maxine Waters (CA-35) cheered a report that the nations overall unemployment rate fell to 9.7 percent in January from 10 percent in December, but she expressed concern that African American unemployment jumped from 16.2 to 16.5 percent during the same period almost double the rate of white unemployment, which fell to 8.7 percent. In fact, since November 2009 unemployment for African Americans has increased by almost an entire percentage point. Hispanic Americans also face record high unemployment at 12.6 percent.
Its painfully clear that African Americans and Latinos continue to bear the brunt of this economic recession, said Waters. More must be done. We cannot in good conscience welcome these numbers without acknowledging the disparity that exists between the general population and communities of color. As lawmakers we must not shy away from targeted public policy that seeks to address the specific and unique issues facing minority communities.
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Waters recently led efforts to secure assistance for communities that are still reeling from the effects of the recession. She led a group of Congressional Black Caucus (CBC) lawmakers on the Financial Services Committee in securing $4 billion within the Wall Street Reform and Consumer Protection Act of 2009 for unemployed homeowners and devastated communities dealing with the foreclosure crisis.
The congresswoman also voted for the House Jobs on Main Street Act in December, which provides $75 billion for highways and transit, school renovation, hiring teachers, police, and firefighters, small businesses, and job training. It also extends emergency unemployment benefits, COBRA and Medicaid health benefits, and cuts taxes by making the Child Tax Credit available to all low-income families.
Having been a leading advocate in securing emergency funding for job creation and unemployment benefits, I realize that we must also focus on long-term strategies to put all Americans back to work, particularly in the African American and Hispanic communities, said Waters. Our countrys economic recovery wont be as strong or complete if some communities continue to suffer from long-term unemployment.
She vowed, I am going to redouble my efforts in Congress to make sure that job-creation solutions benefit all Americans.
Cummings Welcomes Positive Employment News
Congressman Elijah E. Cummings (MD-07) released a statement following the descent of the unemployment rate below 10 percent. The U.S. Bureau of Labor Statistics announced that unemployment was at 9.7 percent, and that employment numbers were down only 20,000.
While it is good to see that the unemployment rate fell below ten percent again, one American job lost is one job too many, said Cummings. We owe it to those still standing on the sidelines to work our hardest to get them back in the game. However, it is critical to remember that last January, 779,000 Americans lost their jobs. The presidents plan is working.
I will keep fighting for small businesses, fighting to keep people in their homes and fighting to create good American jobs, because our plan is working and we must keep fighting to bring America back.
Cummings Congratulates New Mayor of Baltimore
Cummings (MD-07) released a statement on the occasion of the swearing in of new Baltimore Mayor Stephanie Rawlings-Blake. I congratulate my friend Stephanie Rawlings-Blake, on becoming the 49th Mayor of my hometown, Baltimore. Mayor Rawlings-Blake takes over the helm of a city that, like so many others, is still reeling from the effects of our national economic downturn. However, I know that with her leadership and incredible work ethic, combined with the wonderful spirit and optimism of the people in the City of Baltimore, we will not only recover, but we will again thrive as a city.
Cummings Condemns AIG Bonuses
Cummings (MD-07) addressed the millions of dollars in retention payments given to employees of American Insurance Group (AIG), calling the bonuses distasteful.
The bonus payout is part of a previously known $195 million award that was promised to employees of the AIG Financial Products unit. Payments will go only to current and former employees at the company's Financial Products division who agreed to accept between 10 and 20 percent less money than AIG had initially promised them years ago. In return, they are receiving their payments more than a month ahead of schedule.
I appreciate the willingness of AIG employees to give some of their bonuses back, said Cummings. However, AIG still owes taxpayers and there is little that AIG employees can do to deserve these bonuses while that is still the case.
[Special Master for Pay] Mr. Feinberg examined these distasteful bonuses and unfortunately found that they are required retention payments. I trust the capable oversight that Mr. Feinberg has provided, and I hope these bonuses are, at the very least, a tradeoff toward winding down the AIG Financial Products division faster.
In the meantime, I am looking forward, trying to fix the results of excessive risk taken by financial groups like AIG. That means continuing to work with the President to keep people in their homes and to create more American jobs.
The AIG bonuses are not based on production, but are retention bonuses, keeping employees at the insurance giant to help close down divisions of the company which contributed so mightily to the national economic downturn.
Special Master for Pay Kenneth Feinberg noted that AIG executives have pledged to pay back $39 million out of $45 million in previous bonuses to the U.S. Treasury.
Fudge decries cancellation of NASA Program
Rep. Marcia L. Fudge (OH-11) issued a statement in response to the White House's announcement that it plans to cancel NASA's Constellation Program, which was created in 2004 to return astronauts to the moon and, eventually, Mars.
The Administration's proposed cancellation of the NASA Constellation program deeply concerns me, as this directly impacts over 250 employees at the Glenn Research Center.
Nonetheless, I am confident that, with assistance from the Administration, these valuable researchers will transfer their skills to a new scientific endeavor. The transition of these valuable employees from the Constellation program to a new assignment must be a priority.
Overall, I am optimistic about NASA's new direction and know the Glenn Center will restructure appropriately to accommodate these changes.
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