Congressman Cohen Statement on Passage of the Recovery Package

Today, I cast my vote in favor of H.R. 1 so as to provide jobs, help fund schools, provide for more cops on the street, green our country and fund health care for individuals and The MED. This was indeed an historic vote of large proportions, but the financial abyss in which our country finds itself necessitates that we try to avoid an economic depression.

President Obama has said that without bold, swift action immediately, this crisis could turn into a catastrophe. The country elected a new President and strengthened our Democratic majority in Congress in order to enact change, and that is what this important legislation does.

I am grateful that the legislation provides support for the people hurting most from the financial crisis. I worked hard with my colleagues to ensure that they receive extended unemployment insurance, food stamps, funds for public housing, job training and assistance with impending foreclosures.

While I would have obviously preferred that we passed the original House version of the bill, I am still confident that this legislation will help to turn around our economy and create or save 3.5 million jobs. This legislation begins an extraordinary transformation of our economy, making us more globally competitive and energy independent for the 21st Century. We’ve made unprecedented investments in infrastructure to modernize roads, bridges and airport facilities and build energy efficient buildings and schools. We’ve also restored science and innovation as the keys to new American-made technology, preventing and treating disease and tackling urgent national challenges like climate change. The legislation modernizes our health care system to lower costs, save lives and help many who have lost their jobs in the recession to continue to receive health coverage. Furthermore, we passed this bill with no earmarks and unprecedented accountability measures to ensure that tax dollars are spent wisely.

Finally, I am proud that elements of the “Cohen Amendment,” which I submitted two weeks ago in preliminary negotiations for the recovery package were incorporated through an amendment put forth by Senator Tom Harkin (IA). The National Institutes of Health (NIH) will receive an additional $10 billion through H.R. 1. NIH is the primary source of funding for treatments to diseases like cancer, AIDS, diabetes, and Alzheimer’s disease. These deadly diseases affect all of us and our families, so we in Congress must be proactive in funding the research which might one day result in cures or new treatments.

This jobs and economic recovery plan contains strategic efforts:

• Creating or saving 70,000 jobs in Tennessee over the next two years;
• Providing a Making Work Pay tax cut of up to $800 for 2,370,000 workers and their families, designed to start paying out immediately into workers’ paychecks, as well as tax cuts to spur businesses large and small;
• Transforming our economy with clean, efficient, American energy and innovation and technology that will create more than 1 million jobs;
• Lowering health care costs and improving care by computerizing medical records, which will create hundreds of thousands of jobs, and helping those who cannot afford health care in these tough times;
• Modernizing roads and bridges to create jobs with an extra $572,701,043 in Tennessee along with other critical infrastructure like high-speed rail, the boldest investment since the creation of the interstate highway system a half century ago;
• Education for the 21st Century, modernizing schools and making college more affordable with improved Pell Grants for the 139,634 Pell Grant recipient in Tennessee and a higher education tax credit for 87,000 students in our state;
• Helping workers hurt by the economy, including 241,200 of Tennesseans that are out of work, those who have lost their health care, and seniors; and
• Saving the jobs of teachers, police officers, health care workers, and protecting the vital services they provide.

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Marilyn Dillihay, Press Secretary, 202-225-3265
Charlie Gerber, Communications Assistant, 202-225-3265