This week, House Republicans plan on passing H.R. 1, the Full-Year Continuing Appropriations Act of 2011, which funds the government through September 30, 2011.  In their attempt to cut $61 billion from the budget, Republicans have also managed to cut the most important resources for families across this nation— jobs.  According to the Economic Policy Institute, under this bill, our nation could lose nearly 800,000 private and public-sector jobs due to these spending cuts this year.  * New York is set to lose 11,803 jobs due to the cuts in transportation and infrastructure investments that Republicans have included.*  As a Member of the House Small Business Committee, I am particularly concerned that Republicans have decided to cut $200 million from the Community Development Financial Institution (CDFI) Fund.  This important program provides access to credit for minority and women-owned small businesses around the nation, which could cost our nation 19,000 jobs.*

While I acknowledge that we need address our national debt, it is important that we acknowledge that almost a decade of irresponsible regulatory practices for big banks, and fighting two wars overseas started under the Bush Administration, turned our once record budget surpluses under the Clinton Administration, into record national debt.  Let’s stop implementing the obsolete policies from the Bush Administration and realize cuts that will address our national debt.  For example, the cost of permanently extending the Bush era tax cuts for those who make 250,000 a year or more will cost us $700 billion over ten years.  I look forward to working with my colleagues to directly address our national debt while at the same time bolstering our economy's recovery.   Click here to read  the press release regarding  the letter I sent to House Republicans, calling on them to restore funding to CDFI Funds.

*Source: The Economic Policy Institute; House Transportation and Infrastructure Committee Democratic Staff; U.S. Department of Treasury

Rep. Yvette D. Clarke Hosts 2011 Job Fair

On Tuesday, March 22, 2011, I will be hosting a job fair from 10am EST to 2:30pm EST at the Madison Square Boys & Girls Club.  My goal is to connect prospective job candidates with prospective job employers from different industries across the city.  New York City has been hit hard by this economic downturn, and we must ensure that we provide the resources residents need to obtain a job.  While the economy continues to recover, financial statistics mean nothing to the people can’t find a job.  The latest statistics indicate New York City’s Unemployment rate sits at 8.9%.  By hosting this job fair, I hope that as many people as possible will find meaningful work and make it a little easier to support their families.  Click here to RSVP your attendance at this year’s job fair.