Economy and Jobs

"By opening up the credit market to small businesses, this bill provides America's entrepreneurs with the tools they need to succeed," said Congressman Garamendi, a small business owner. "Although three million Americans have jobs because of the policies of President Obama and this Democratic-led Congress, we face a long road ahead. Expanded access to capital bolsters our economic recovery and helps ward off a double-dip recession."

"If you own a business in this country, and you’ve been thinking about broadband installation, machine tools, or a new production line, with this legislation, now’s the time," Congressman Garamendi said. "By allowing corporations to write-off 100 percent of all capital investments through 2011, we can create a chain reaction of job creation. Businesses with write-offs can expand and hire new workers by purchasing equipment made by businesses that can expand and hire new workers – a perfect synergy for economic growth."

"The most high risk pipeline in the Bay Area runs through my district – from Livermore to Sunol," added Garamendi, California’s former Lieutenant Governor and State Insurance Commissioner. "People I represent are among the most vulnerable in the nation, yet according to a recent newspaper report, city officials were not informed. I have many questions for PG&E and the state and federal regulators. I want answers."

"We’ve seen too many families lose their homes and too many communities lose their character because of the foreclosure crisis. Abandoned homes can expose our neighborhoods to blight, crime, and hopelessness," said Congressman John Garamendi. "When this Congress passed tough Wall Street reform this year, we insisted that the final package include significant assistance for homeowners and local communities. Today more than $6 million of that promise is being delivered to residents in Contra Costa and Solano counties."

On Monday, August 23rd, Congressman Garamendi conducted an Orinda small business tour and a town hall in Pleasant Hill. On Thursday, August 26th, he visited a number of businesses in Livermore. During the month of August, Congressman Garamendi held more than two dozen public appearances in the 10th Congressional District.

"Public safety is a top priority in any economy," Congressman Garamendi said. "I’m glad local police departments will have an easier time balancing difficult budgets because of this new funding."

"Warehousing and distributing goods employs a lot of Americans, but it’s only one piece of the supply chain. In the research and development, manufacturing, installation, and maintenance of products, opportunities abound to create quality jobs. As we celebrate the creation of good jobs here today, let’s remember that America’s future prosperity depends not just on the distribution of goods but also on the creation of them. If we don’t make it in America, we won’t make it in America. Manufacturing matters."

"Broadband is the express lane of the Internet, but for too long we’ve allowed other nations to pass by America," Rep. John Garamendi (CA-10) said. "We’re presently ranked 18th in the world in average broadband speed – four times slower than South Korea. In a global economy increasingly reliant on fast and reliable Internet access, especially in California, this investment in broadband is critically needed."