Floor Updates

Reid

Opening Remarks

Mar 15 2012

09:42 AM

Senator Reid: (9:33 AM)
  • Today --
    • The Senate will proceed to a period of Morning Business until 11:00 AM, with Senators permitted to speak up to 10 minutes each. The time will be equally divided with the Majority controlling the first half and the Republicans controlling the second half.
    • At 11:00 AM, the Senate will begin consideration of H.R. 3606, the JOBS Act.
    • At 1:45 PM, the Senate will proceed to Executive Session for up to 15 minutes of debate, equally divided, on: (1) Executive Calendar #408, Gina Marie Groh, of West Virginia, to be United States District Judge for the Northern District of West Virginia; and (2) Executive Calendar #461, Michael Walter Fitzgerald, of California, to be United States District Judge for the Central District of California.
    • At 2:00 PM, the Senate will conduct 2 ROLL CALL VOTES on confirmation of the nominations.
  • Honored Senator Mikulski, who will become the longest-serving woman in Congress on Saturday, March 17, 2012.
  • Spoke on the JOBS Act.
    • SUMMARY "The Senate will move today to a piece of legislation that will improve innovators' access to capital and give start-ups the flexibility they need to hire and grow. This bill already passed the House by an overwhelming margin. President Obama supports this measure and both Democrats and Republicans are eager to get to work to pass it next week. In addition to the small business capital legislation, the Democrats will also advance a proposal to help American businesses sell more of their products overseas. Reauthorization of the export-import bank, or Ex-Im bank, as it's called, will help small business exports globally. It will also help large businesses, not just big businesses - I mean, not just small business; also big business. Caterpillar, Boeing - these companies really need this to continue the job creation they've been involved in now for the last several years. as an example, last year Ex-Im bank financed almost 300,000 private-sector jobs and more than 3,600 American companies in more than 2,000 communities throughout America. Foreign governments often provide financing for companies that compete with American businesses. We need to be able to do this to be more competitive. The Ex-Im bank levels the playing field by being available to help American exporters when private lend something not available. Unless we reauthorize this, it will hit its lending limit this month eliminating this for American exporters. The Export-Import bank has always had strong support and Democrats reauthorizing this measure has the firm backing of the chamber of commerce. This equals jobs. Passing these two items - this Ex-Im bank and the small business capital bill - will continue the important bipartisan work we've done this week to get our economy back on track. I'm pleased that Democrats and Republicans in the Senate have been able to find common ground."