Time to HIRE, Making Small Business Work

Dear Friends,

This week, the President signed the Patient Protection and Affordable Health Care Act (H.R. 3590). I proudly attended the ceremony at the White House. It was one of the most momentous events of my Congressional career.

Since coming to Congress in 2001, I have tirelessly advocated for fundamental changes to our health care system, and my constituents have demanded solutions. With this legislation, we will begin to institute the changes necessary to provide security and stability to Rhode Islanders who have health insurance, guarantee coverage to the thousands who don't, and lower health care costs for our families, businesses and taxpayers.

This Legislation also puts our country on a fiscally sustainable path.  The new law, which is budget neutral, will further reduce our nation's deficit by $138 billion over the next 10 years and $1.2 trillion over the following decade - the largest deficit reduction in 17 years.  This deficit reduction will have a positive impact on our communities and will prove critical to the fiscal health of our state.

Among the many beneficial provisions in H.R. 3590 are several initiatives beginning immediately in 2010, including:

• Ending abusive health insurance practices that prevent people from purchasing and maintaining coverage when they are sick
• Banning lifetime insurance caps, so individuals with chronic, disabling conditions don't lose coverage and end up in bankruptcy
• Requiring all insurers to reinvest more of our premiums back into health coverage, reducing administrative expenses and windfall profits for insurance executives.

Moving forward, I know that you may have questions about how this bill will affect you.  While my staff and I are always available to help address your concerns, here are some valuable information resources that may be useful: Immediate Provisions, Paying for Reform, Small Businesses, and Medicare.

Langevin recently visited the Westbay Adult Education Academy. The academy, which is administered by Westbay Community Action Program, received $230,000 in Recovery Act funding. This infusion of funding created four full-time jobs and allowed the program to expand to better meet the community's demand for GED classes, work readiness and college prep assistance.

In this issue:

• Time to HIRE
• Making Small Business Work

Time to HIRE
Although it was health care that grabbed the headlines this month, the economy continues to be a huge priority for Congress and the Administration.  To that end, the President this month also signed the HIRE Act (H.R. 2847) into law. HIRE, which I supported, will strengthen our economy by limiting job loss and creating new employment opportunities. In addition to provisions that will spur investment in infrastructure and construction projects, this bill includes a payroll tax holiday for businesses that hire unemployed workers and tax cuts to help small businesses expand and hire more workers.

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Did you know?

The Quonset Development Corporation will receive over $22.3 million in federal Recovery Act funding to help create green jobs, develop alternative energy sources, and alleviate highway congestion. The Transportation Investments Generating Economic Recovery (TIGER) grant will be used to make infrastructure upgrades at the Quonset Business Park, including road, pier, and freight improvements which will increase port capacity.

Making Small Business Work
Congress continued its efforts to bring relief to small businesses this week by passing H.R. 4849 - the Small Business Infrastructure Jobs Tax Act of 2010 and H.R. 4899 - the Disaster Relief and Summer Jobs Act of 2010.

H.R. 4849 will help our small businesses thrive by spurring private sector investment and hiring. It will exclude 100 percent of small business capital gains and increase the tax deduction for start-up expenditures -- giving our small businesses the new capital they need to grow and hire more workers.  It extends or expands a number of existing provisions, including the TANF Emergency Fund, which states have used to create jobs programs that subsidize employers who hire unemployed workers. Rhode Island's program should go into effect shortly.  H.R. 4899 will help rebuild disaster-stricken communities that were faced with floods and record snowfalls, expand summer jobs programs for youth, and extend Small Business Administration Recovery Act loan provisions.

Congress is committed to more action on creating jobs and helping our small businesses, which are the backbone of Rhode Island's economy, and I look forward to working on further initiatives in the coming months.

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Thank you for your continued interest and support. Please do not hesitate to contact me about your priorities and concerns as the 111th Congress continues.

Sincerely,