Washington, D.C. – Nevada Senator Harry Reid made the following remarks today on the Senate floor regarding the Congressional Budget Office’s analysis showing Democratic jobs proposals would create jobs, while Republican proposals could dampen economic growth. Below are his remarks as prepared for delivery:
This week the non-partisan Congressional Budget Office confirmed what Democrats have been saying for months: the so-called “Republican jobs plan” isn’t much of a plan and it wouldn’t create any jobs.
The CBO’s report analyzed different approaches to spurring economic growth and creating jobs proposed by both parties.
Among the top job creators were Democratic proposals to extend unemployment benefits and cut middle-class taxes.
But when the CBO looked at the GOP plan to eliminate safeguards that protect lives, save money and shield the environment, it concluded the idea was a flop.
The study showed that the effects of the changes Republicans propose would be negligible at best, and at worst could actually lower economic growth and slow hiring.
Although their plan would have no positive effect on our economy, Republicans want to gut the safeguards that saved hundreds of thousands of lives last year alone.
And although their plan could potentially slow economic growth, they want to gut the safeguards that save American companies and consumers $1.3 trillion a year by increasing productivity and reducing medical bills.
Non-partisan experts agree this is not the road to recovery.
They also agree with Democrats that putting money back in the pockets of middle-class families and small-business through tax credits and refunds, and by extending unemployment benefits, is the most efficient way to get Americans working again and turn our economy around.
Families that have more money to spend will pump it back into the economy. Businesses that have more money to spend will hire new workers.
And at a time when we need to conserve every dollar and get the most bang for the buck, these proposals do more with less.
As we continue to discuss ways to combat high unemployment in coming months, it would behoove my Republican colleagues to remember that not all proposals are created equal.
When we consider our next jobs bill in December, my Republican friends will once again face a choice: they can cling to ideological proposals we know won’t work, or they can join forces with Democrats to pass proposals we know will create jobs.
I hope Republicans prove to be more interested in getting results than in getting their way.