[Congressional Record Volume 155, Number 29 (Thursday, February 12, 2009)]
[Senate]
[Pages S2182-S2183]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            STIMULUS PACKAGE

  Mrs. SHAHEEN. Mr. President, I rise today in support of the economic 
recovery package on which we will soon vote. We are in the midst of the 
most severe recession since the Great Depression. Families and small 
businesses across this country and in my home State of New Hampshire 
are hurting. As a former Governor and small business owner, I know it 
is business and not government that creates jobs and drives new ideas 
and innovation. But I believe government has a vital role to play in 
helping business create jobs, especially in these very difficult 
economic times.
  These are very difficult economic times. New Hampshire is a small 
State. We have just over 1.3 million people. Yet, in December alone, 
nearly 73,000 weekly claims were filed for unemployment compensation. 
As you can see on this chart, that is more than double the number of 
unemployment claims of a year ago and almost triple what the 
unemployment claims were 2 years ago. Nationally, we lost almost 
600,000

[[Page S2183]]

jobs in January alone. We are shedding jobs at an alarmingly fast rate 
in New Hampshire and across this country. That is why it is critical 
that we pass a robust economic recovery package and that we do it 
immediately.
  The economic recovery bill we are going to vote on is not perfect. I 
would have preferred more investment for roads and bridges, for water 
treatment plants, for K-12 and higher education buildings. Over the 
past year in New Hampshire, we lost almost 10 percent of our 
construction jobs, and investing in infrastructure creates good-paying 
construction jobs now, with the money earned by these workers 
generating a multiplier effect of economic activity so that it 
strengthens our economy, not just now but in the future. If it were up 
to me alone, we would be investing more heavily in infrastructure. But, 
as President Obama said the other day, we cannot let the perfect be the 
enemy of the good.
  This economic recovery bill is good. For example, with this bill, 
over $132 million in highway funding will come to New Hampshire for 
road and bridge construction. Monday, I toured the construction site 
for a long planned access road to our major airport in New Hampshire, 
the Manchester-Boston Regional Airport. The highway funding in this 
economic recovery package will expedite the completion of that access 
road to our major airport in Manchester. It will create 1,000 
construction jobs, and it will unleash the full potential of the 
Manchester Airport.
  Almost $60 million will come to New Hampshire for water and 
wastewater treatment plants. That will create good construction jobs. 
It will enable cities and towns to move forward with long overdue 
projects.
  The economic recovery package will also help small businesses obtain 
the financing they need to retain and create good jobs. This is 
critically important in New Hampshire, where 94 percent of our 
businesses have fewer than 100 employees, yet they employ half of the 
State's workforce.
  The credit crunch has hit small businesses particularly hard. By 
temporarily waiving the Small Business Administration fees and 
increasing the loan guarantee cap, this economic recovery package is 
estimated to stimulate up to $20 billion in small business loans.
  We may need to do more in the coming months to help small businesses 
access the working capital they need to survive during the recession. 
Too many small businesses today are relying on credit cards and they 
are paying exorbitant interest rates to obtain working capital. As a 
member of the Small Business Committee, I will be vigilant at 
monitoring whether the actions we are taking now in this economic 
package are sufficient to provide small businesses with access to 
financing.
  This economic package will also put us on the path to energy 
independence by doubling our renewable energy-generating capacity over 
the next 3 years. By passing this legislation, we will make it possible 
for great projects across the country to get up and running.
  I had the opportunity to talk to some people behind one of those 
projects in our capital city of Concord, NH. A company called Concord 
Steam has a fully permitted 20-megawatt biomass plant that is ready to 
go right now. Their challenge is getting the financing they need. If 
they are able to go forward, this combined heat and power plant will be 
built on a restored brownfields site. It will employ over 100 
construction workers for the next year and a half, and it will create 
25 permanent jobs at the plant. Because its fuel will be New Hampshire 
forest waste, this renewable powerplant will also create about 100 jobs 
in the timber industry. This project will benefit every single American 
because the steam heat and power that it produces will displace 12 
million gallons of foreign oil each year.
  We need to pass this economic recovery package, not only because it 
will put people back to work and lay a foundation for long-term 
economic growth but also because we need to restore confidence in our 
economy. The American people have always risen to meet every challenge. 
They need to see their Government is ready to meet this economic 
challenge as well.
  I urge my colleagues to join me in voting for this economic recovery 
package and doing it as soon as possible.
  I suggest the absence a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The assistant legislative clerk proceeded to call the roll.
  Mr. BROWN. Mr. President, I ask unanimous consent that the order for 
the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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