Senator Brown’s statement is as follows:
Just earlier in the week, my office staff and I were celebrating the great news of upwards of some 400 jobs coming to our Senate District. Within literally minutes after that very happy moment of celebration, we received news that in the same general locale of my district we were going to lose 350 jobs.
Now, Mr. President, Senate Resolution No. 222 would urge Congress to enact legislation to help revitalize the economy of states with annual unemployment rates 50 percent above the national average for two years. Mr. President, wherever we go, whether it’s the grocery store or gas station, the main concern on the minds of most everyone in our state is Michigan’s economy and the need for people to find work.
For 2006 and 2007, Michigan’s annual average unemployment rate exceeded the federal average by 50 percent, and for 2008, our unemployment rate was on track to do so again. August’s unemployment rate—as we all know—reached 8.9 percent. Michigan has had the highest employment rate in the nation for 30 months, since March 2006. This is not a track record or a designation that our state workers want to have.
By the resolution before us, we are attempting to help Michigan’s economy and lower this high unemployment rate by offering a simple idea to the members of Congress to aid Michigan and other states who suffer similar economic straits. The resolution calls for a Recovery State Renaissance Zone Act, which would offer qualifying states the following: first, an increase in the federal investment tax credit; two, the ability to designate certain areas of the state as exempt from federal corporate taxes with a cap of $1 billion per year.
Mr. President, these are just ideas. Congress could, of course, use any part of this resolution or add to the ideas suggested to help the recovery of states likes ours. Economic development officials from my district have agreed that while Michigan has enacted some policies to help spur Michigan’s economy in the long-term and while we still need to make additional changes to ease regulations on businesses, there is a role the federal government can play to step in and assist our state as well.
Mr. President, please join me and I ask all members to support Senate Resolution No. 222.