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Rep Anna Eshoo

The Jobs Deficit

August 24, 2011
e-Newsletters

Dear Constituents,

As I meet with people throughout our community, one thing is abundantly clear. The most critical deficit we face is a deficit of employment, and it is what my constituents want Congress to address.

Without more employment, our economy and the budget situation will deteriorate further. Here are some good policy ideas and initiatives I'm supporting which will help put our country back to work and get our economy going again.

First, I strongly agree with experts across the country that we need to create a national infrastructure bank to rebuild our aging infrastructure and employ Americans. I've cosponsored the National Infrastructure Development Bank Act, which will repair and restore our roads, bridges, airports, water systems and energy grid across the country, immediately employing thousands of people. It also will help deploy broadband to rural communities. The legislation capitalizes a public-private bank, leveraging government investment with many times that amount in private sector funds for infrastructure projects to increase our competitiveness and create thousands of jobs that can't be shipped overseas. The proposal enjoys broad support from state and local governments, business groups, and labor, and is modeled on successful efforts in Europe.

Second, in conjunction with my support for national infrastructure investments, I've introduced the Broadband Conduit Deployment Act, or the "dig once" bill, as it is commonly referred to. Taxpayers would get the best value by requiring the inclusion of "broadband conduit" during federal highway construction. My bill is intended to reduce the barriers to deployment, increase investment and competition for broadband, and save taxpayers' money by installing conduit when roads are built, instead of tearing them up later. The bill has attracted broad support, and I will continue to advocate for its passage.

Image removed.I'll also be an original cosponsor of upcoming legislation to create a new Joint Select Committee on Job Creation. Modeled on the "Super Committee" which was created in the debt ceiling negotiations, this new Committee would be charged with producing a legislative plan to restore the U.S. to full employment. The Committee would operate under the same terms as the deficit-reduction panel, consist of 12 Members appointed by the bipartisan leadership of the House and Senate, and with a majority vote, it would approve an economic plan for expedited consideration by Congress this year.

Contrary to what some are arguing, I firmly believe Congress can and should tackle short-term action on jobs while continuing to address long-term deficit reduction. What we can't afford is slow growth and continuing high unemployment.

The following are proposals we can undertake right away to provide immediate economic relief and create jobs:

• I firmly believe that the national economy will not rebound until we address the mortgage foreclosure crisis. Congress should direct the Treasury to work with banks to lower mortgage payments and extend the payback period. This could incent financially stressed homeowners to stay in their homes, pay their mortgages, and stop the hemorrhaging of foreclosures.

• Extend the payroll tax holiday beyond the end of this year for workers and small business owners, providing a 2% payroll tax break that puts money in the hands of consumers, and gives employers an incentive to hire more workers.

• Fix America's schools, and quickly. The average public school building in the United States is 40 years old. Collectively, our public schools need an estimated $500 billion in repairs and upgrades. At the same time, some 1.5 million construction workers are currently unemployed. A $50 billion school construction program would employ 500,000 workers and could easily be scaled up. The money can be disbursed using existing federal formulas to all 16,000 public school districts, and the initial cost could largely be offset over 10 years by ending wasteful tax breaks for fossil fuel exploration.

• Establish an employment program for one million young people in national parks, community centers and college campuses. This would provide enormous economic benefits, while revitalizing our national treasures and serving our communities.

I fully recognize that government alone does not possess the power or the resources to bring about an overnight turnaround of our economic difficulties. Producing innovative ideas and inventive thinking belongs to the private sector, and nowhere is that truer than in Silicon Valley. However, the public sector has a responsibility to provide the conditions and resources for those ideas to take root. Slashing funding for college students' financial aid, for research and development, and for environmental protection will not help us shape a better future, and it won't make our citizens more competitive with workers around the world.

I think these important proposals deserve bipartisan support to address the employment crisis. Let me hear from you about what you think of these ideas, and send me yours. I'm proud to represent a Congressional District where my constituents are informed, ask serious-minded, thoughtful questions and send comments that provide me with highly valuable feedback.

Most gratefully,

Image removed.

Anna G. Eshoo

Member of Congress