[Congressional Record (Bound Edition), Volume 157 (2011), Part 12]
[Senate]
[Page 17808]
[From the U.S. Government Publishing Office, www.gpo.gov]




                               CBO REPORT

  Mr. REID. This week, the nonpartisan Congressional Budget Office, 
known as the watchdog of the Senate, confirmed what Democrats have been 
saying for months--that the so-called Republican jobs plan isn't much 
of a plan and it wouldn't create any jobs.
  The Congressional Budget Office report analyzed different approaches 
to spurring economic growth and 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 that the idea was a flop. The study 
concluded that the effects of the changes the 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, the 
Republicans want to gut the safeguards that saved hundreds of thousands 
of lives just last year alone. Although their plan could potentially 
slow economic growth, they want to gut the safeguards that save 
American companies and consumers $1.3 trillion each year by increasing 
productivity and reducing medical bills. Nonpartisan experts agree this 
is not the road to recovery. They also agree with Democrats that 
putting money back into the pockets of middle-income families and small 
businesses with tax credits and refunds and extending unemployment 
benefits is the most efficient way to get Americans working again to 
turn our economy around. Families who have more money to spend will 
pump it back into the economy. Businesses that have more money to spend 
will hire new workers. At a time where 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 the 
coming months, it would behoove my Republican colleagues to remember 
that not all proposals are created equally. When we consider our next 
jobs bill in December, my Republican friends will once again face a 
choice: We 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 the Republicans prove to be more interested in 
getting results than in getting their way.

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