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On the Issues: Economic Prosperity

South Florida is one of the regions hit hardest by our nation’s economic crisis, with an unemployment rate and a foreclosure rate higher than the national average. I have been working with President Obama and Democratic leaders in the 111th Congress to address these economic challenges and put America back on a path of economic prosperity.  It is time for Washington to put middle class Americans first and finally tackle longstanding issues such as failing pensions, costly and inaccessible health insurance, and a tax system that rewards work instead of just wealth.

In early 2009, I was proud to join a sizeable majority in the House of Representatives to pass the American Recovery and Reinvestment Act of 2009. This comprehensive economic stimulus package makes critical investments in education, infrastructure, transportation, energy, and other sectors of our economy. This crucial legislation will save or create 3.5 million jobs – including 206,000 in Florida and over 62,000 in South Florida alone.

The stimulus package also contains the “making work pay” tax credit, the largest middle class tax cut in the American history, which provides an extra $400 per year to 95% of America’s workforce to help with everyday expenses. You can learn more about this legislation’s provisions by downloading my economic stimulus guide for South Florida. I also encourage all South Floridians to monitor progress of the stimulus funds by visiting http://www.recovery.gov.  The American Recovery and Reinvestment Act is the first of many steps Congress has taken and will take to create jobs and help shore up the economy. Click here to read Congressman Wexler's guide to the stimulus package for South Florida.

In addition the economic recovery package, Congress has taken up several other issues of great importance to our economy. I am pleased that one of the first laws Congress passed in 2009 was the Lilly Ledbetter Fair Pay Act. It is simply unacceptable for a woman to make 78 cents for every dollar a man makes for the same work in America. When President Obama signed this into law, the rights of women to challenge unfair pay were restored. 

I have also been working to protect consumers from unfair credit card practices.  Far too many South Floridians are opening their credit cards statements to find arbitrary rate increases and unfair fees.  This is unacceptable and it places an unfair burden on the average American family.  On April 30th, 2009, Congress passed the Credit Card Holders’ Bill of Rights, which shields consumers from unfair rate increases and strengthens credit card disclosures.  By increasing oversight of the credit card industry, Congress has followed up on its pledge to fight for the middle class.

I also strongly support the Employee Free Choice Act of 2009, a bill that protects the ability of workers to form a union by using a secret ballot election or a majority sign-up system. According to the Department of Labor, unionized workers are 59% more likely to be covered by employer-provided health insurance, and on average, they receive 30% higher wages.  For too long, America’s workers have suffered under an Administration who stood with corporate CEOs and an economy that catered to Wall Street.  Now, more than ever, is the time to pass this bill and help ensure America’s workers have access to fair wages, health benefits, and retirement security.

Currently, I am working with my colleagues in Congress and the President to pass a budget for fiscal year 2010 that reflects several important priorities, including universal health care, energy independence, and education reform, while cutting the deficit by nearly two-thirds by 2013.  The final version passed the House on April 29th, 2009.  This landmark budget delivers the change we need by reforming broken systems, eliminating waste, investing in our children’s future, and cutting middle class taxes by more than $1.7 trillion.  Read a summary of the budget from the House Budget Committee.