Economy and Jobs
Generating jobs and strengthening the economy is one of Congressman Cohen’s top priorities in Congress. Some of the efforts that Congressman Cohen has made to bring much needed economic revitalization to Memphis include:
- Congressman Cohen helped to secure the $71.2 million Department of Transportation grant for the Lamar Avenue redevelopment project, an effort that has been a top priority for Congressman Cohen since he was elected to federal office. The project includes major roadway repairs and capacity upgrades to Lamar Avenue, a regionally and nationally important intermodal freight corridor and will facilitate truck traffic in and out of the BNSF intermodal freight facility, creating efficiencies in the movement of goods and bring jobs and economic growth to Memphis.
- Congressman Cohen helped Memphis secure a $30 million federal grant from the Department of Housing and Urban Development’s Choice Neighborhood program to redevelop Foote Homes and bring much needed revitalization to Memphis.
- Congressman Cohen helped Memphis acquire a $15 million TIGER grant for the Main to Main pedestrian and bike path project across the Harahan Bridge and other improvements to downtown Memphis infrastructure.
- Congressman Cohen helped Memphis-Shelby County Airport to be selected as one of ten federal test sites for the Unmanned Aircraft Systems Integration Pilot Program (drones), a program overseen by the Department of Transportation that will increase the stature of Memphis as a center for this cutting-edge technology and burgeoning industry, ultimately bringing jobs and positive economic growth to the region.
- Congressman Cohen fought for years to secure funding for the Minority Business Development Agency (MBDA) Business Center in Memphis that led to a three year $1 million grant from the U.S. Department of Commerce (DOC) in 2012. The MBDA is the only federal agency created specifically to foster the establishment and growth of minority-owned businesses in America.
- Congressman Cohen introduced the Supermarket Tax Credit for Underserved Areas to provide tax incentives for the establishment of supermarkets in food deserts. The bill increases the work employment tax credit to hire disadvantaged youth, community residents and veterans and also provides a credit of sales for fresh fruit and vegetables from local community gardens.
- Congressman Cohen cosponsored the Pay Workers a Living Wage Act to increase the minimum wage to $15 an hour by 2020.
- Congressman Cohen cosponsored the Paycheck Fairness Act to strengthen the Equal Pay Act by providing effective remedies to women who are not being paid equal wages for doing equal work and protecting employees from retaliation for sharing salary information with their coworkers.
- Congressman Cohen cosponsored the Credit Access and Inclusion Act to allow the use of non-financial service providers to provide customers’ on-time payments to credit reporting agencies, including gas, electric, and telecommunications firms and landlords. The bill enables more predictive information of often-credit-invisible consumers to be utilized to establish credit.
- Congressman Cohen cosponsored the Original Living Wage Act. The bill links the federal minimum wage to 15% over the federal poverty threshold for a family of four ($24,600) and increases the minimum wage automatically every four years to ensure that inflation does not diminish purchasing power.
- Congressman Cohen cosponsored the Keep Our Pensions Promises Act to prohibit multiemployer pension plans from reducing retirees’ monthly benefits and safeguard guaranteed benefits to ensure participants from companies that leave multiemployer plans, and subsequently stop paying into them, will continue to receive benefits.
- Congressman Cohen cosponsored the Restoring Overtime Pay Act to support overtime protections and robust wages for working people by pegging the salary threshold to the 40th percentile of wages in the lowest wage census region and requires automatic updates every three years to ensure the threshold remains in-line with overall increases in workers’ wages.
- Congressman Cohen cosponsored the Schedules that Work Act to provide relief to workers facing irregular and unpredictable schedules. It would require that retail, food service, and cleaning employees receive work schedules at least two weeks in advance. Though schedules may later be changed, one hour’s worth of extra pay is required for schedules changed with less than 24 hours’ notice.
- Congressman Cohen cosponsored the Pregnant Workers Fairness Act to require employers to make reasonable, low-cost, non-disruptive accommodations to employees who have limitations stemming from pregnancy, childbirth, or related medical conditions, unless the accommodation would impose an undue hardship on the employer.
- Congressman Cohen introduced the Fair Access to Credit Scores Act to amend the Fair Credit Reporting Act to provide all consumers with a free credit score each year. In January 2017, the Consumer Financial Protection Bureau (CFPB) ordered credit reporting agencies TransUnion and Equifax to pay more than $23.2 million in fines for deceiving consumers about the usefulness and cost of credit scores they bought from credit reporting agencies.
- Congressman Cohen introduced the Equal Employment for All Act along with Senator Elizabeth Warren (D-MA) to amend the Fair Credit and Reporting Act to prohibit the use of consumer credit checks against prospective and current employees for the purposes of making adverse employment decisions.
- Congressman Cohen cosponsored a Congressional Review Act resolution to nullify the Federal Communications Commission’s (FCC) rollback of net neutrality protections.
- Congressman Cohen cosponsored the Comprehensive Consumer Credit Reporting Reform Act to make sweeping reforms to safeguard consumers’ personally identifiable information from future attacks similar to the Equifax breach, provide affordable access to credit freezing services, and shorten the time period that adverse credit remains on the record.
- Congressman Cohen introduced the Tax Return Preparer Accountability Act to give the Internal Revenue Service (IRS) explicit authority to ensure that paid tax preparers are adequately trained and maintain high standards of integrity protect consumers from fraudulent tax preparation businesses.
- Congressman Cohen cosponsored the Protecting Consumers from Unreasonable Credit Rates to establish a maximum Annual Percentage Rate of 36 percent and applies this cap to all open-end and closed-end consumer credit transactions, including mortgages, car loans, credit cards, overdraft loans, car title loans, refund anticipation loans, and payday loans.
- Congressman Cohen cosponsored the Return to Prudent Banking Act to reinstate the Glass Steagall Act to revive the separation between commercial banking and investment banking by increasing federal oversight over large investment banks but maintaining the flexibility of smaller, local community banks.
More on Economy and Jobs
WASHINGTON – Congressman Steve Cohen (TN-09) tonight voted for, and the House passed, a spending package that will likely avert another government shutdown. The package, which includes $1.375 billion for barriers and bollard fencing but none for the President’s requested border wall, will fund the departments and agencies covered by the Agriculture, Commerce-Justice-Science, Financial Services, Homeland Security, Interior-Environment, State-Foreign Operations, and Transportation-Housing and Urban Development appropriations bills through September 30.
WASHINGTON – Congressman Steve Cohen (TN-09) was notified of the layoffs at XPO Logistics and made the following statement:
“I am very disappointed that XPO Logistics will lay off more than 400 employees. I have previously met with employees and with the senior management of the company regarding labor issues. I have another meeting with company officials scheduled in two weeks when I look forward to addressing these issues further. This new layoff development is disturbing and I hope the employees affected will be treated fairly and ultimately find new jobs.”
WASHINGTON – Congressman Steve Cohen (TN-09) watched President Trump’s second State of the Union message to Congress on television at his office in the Rayburn House Office Building and released the following statement:
WASHINGTON – Congressman Steve Cohen (TN-09) responded to the news today that the four-year-old Electrolux plant, lured to Memphis with an estimated $188 million in government incentives, will close in 2020 with the following statement:
WASHINGTON – Congressman Steve Cohen (TN-09) today voted for, and the House passed, a ninth and tenth bill to re-open the federal government agencies closed by the Trump Shutdown. The first bill, H. J. Res. 28, would provide stopgap funding through February 28, 2019. The second bill, H.R. 648, would provide funding for shuttered federal departments, other than the Department of Homeland Security, through the federal fiscal year which ends September 30, 2019. Both were based on compromises that had previously gained bipartisan support.
WASHINGTON – Congressman Steve Cohen (TN-09) today voted for, and the House passed, the Disaster Supplemental Appropriations Act, providing $12.14 billion in emergency spending to meet the urgent needs of Americans recently affected by hurricanes, typhoons, wildfires and other natural disasters. The bill would also open up those agencies and departments of the federal government currently closed in the Trump Shutdown through February 8.
Congressman Cohen made the following statement:
WASHINGTON – Congressman Steve Cohen (TN-09) today voted for, and the House passed, a bill to fund the Department of the Interior and the Environmental Protection Agency (EPA). The bill prevents the further degradation of our National Parks and monuments and allows the EPA to resume its critical activities in protecting clean air and clean water. Tennessee’s $55.5 million in EPA state grants are currently at risk because of the Trump Shutdown. The bill is virtually identical to one that passed the Senate in August by a 92-6 vote.
Congressman Cohen made the following statement:
WASHINGTON – Congressman Steve Cohen (TN-09) today voted for, and the House passed, two spending bills to reopen the Departments of Transportation, the Department of Housing and Urban Development (HUD) and the Department of Agriculture in an effort to end the destructive, ongoing Trump government shutdown, and made the following statement:
WASHINGTON, D.C. -- Today, Congressman Steve Cohen (TN-09) joined House Democrats and eight Republicans to pass the FY 2019 Department of the Treasury and IRS appropriations bill to remove all doubt that hard-working Tennesseans will receive their tax refunds in full and on time. Each year, about 2.4 million Tennessee households receive an average tax return of about $2,713, which could be in jeopardy as long as the President and Senate Republicans refuse to end the Trump Shutdown and fully re-open IRS.
WASHINGTON – Today, at a hearing of the Transportation and Infrastructure Committee on which he serves as a senior member, Congressman Steve Cohen (TN-09) praised the U.S. Department of Transportation’s selection of Memphis as center for aerial drone technology and noted the initial success last week of a drone demonstration.