[Congressional Record (Bound Edition), Volume 157 (2011), Part 6]
[Senate]
[Page 8882]
[From the U.S. Government Publishing Office, www.gpo.gov]




                ECONOMIC DEVELOPMENT REVITALIZATION ACT

  Mr. REID. Mr. President, the Economic Development Revitalization Act 
is an important bill. Is it the most important bill we have ever done? 
The answer is, of course not. But it is an important piece of 
legislation. It is a very important bill.
  What are the central points of this legislation? For almost 50 years, 
the Economic Development Administration has helped create jobs and 
growth in economically hard-hit communities across the Nation. 
Reauthorization of this important legislation will help ensure that the 
agency is able to help continue creating jobs and investing in 
distressed communities.
  Since 2005, EDA has invested about $1.2 billion, and these grants 
have created more than 300,000 jobs--precisely, 314,000 jobs. For every 
dollar that is invested in EDA, we get $7 worth of private investment. 
That is why the jobs are created. This legislation makes it better.
  This is a bipartisan bill. Senators Boxer and Inhofe and their 
committee have worked to get this to the Senate floor. It increases 
flexibility for grantees, lowers the threshold requirements for 
grantees to receive an increased Federal share, and makes more 
investments available for planning assistance.
  We are trying to move through this legislation. Senator Snowe offered 
an amendment. She has not uttered a single word about that amendment, 
which was offered yesterday. This is the same piece of legislation that 
held up our Small Business Innovation Act. We have had other Senators 
who have come and offered amendments. I don't particularly like the 
amendment offered by the junior Senator from South Carolina, but he 
came and said, ``I want to offer this amendment, and I will agree to a 
time limit on it.'' Senator Paul, the junior Senator from Kentucky, had 
an amendment he wanted to offer. He said he would agree to a short time 
limit. I didn't ask for time agreements on this legislation. I should 
not act as the person who determines what amendments are offered and 
aren't offered. But when someone offers an amendment, we should be able 
to work it to a conclusion.
  This bill, as I have indicated, is an important piece of legislation. 
We need to move through it. We are going to do that to the best of our 
ability. We will have a number of votes today and do our best to move 
through this piece of legislation so we can move to other bills. There 
are a lot of things we can do. We can work on bipartisan pieces of 
legislation. That is my hope today.
  I suggest the absence of a quorum.
  The ACTING PRESIDENT pro tempore. The clerk will call the roll.
  The assistant legislative clerk proceeded to call the roll.
  Mr. McCONNELL. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The ACTING PRESIDENT pro tempore. Without objection, it is so 
ordered.

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