Sen. Carper Statement Regarding the Economic Development Revitalization Act
WASHINGTON – Today, Sen. Tom Carper (D-Del.) released the following statement after the Senate failed to garner enough support to pass the Economic Development Revitalization Act, S. 782. The measure fell short of the necessary 60 votes to file cloture, failing by a vote of 49 to 51:
“I’m disappointed that the Senate failed to approve the Economic Development Revitalization Act. At a time when we’re doing all that we can to put Delawareans back to work, our nation could have used this job-creating legislation. The Economic Development Revitalization Act would have reauthorized the Economic Development Administration, which invests in programs such as infrastructure improvements, business incubators, hi-tech research, highway and broadband improvements, and university job training centers, like the Energy House at the Delaware Technical and Community College. Those investments over the last five years were expected to create over 300,000 jobs, and give American taxpayers a significant return on their investment, generating $7 of private investment for every $1 of Economic Development Administration grant funding.
“We’ve seen the success of Economic Development Administration grants in Delaware. Since 2009, the First State has received nearly $5 million in grants to help jumpstart economic activity and job training. Overall, these projects, in addition to a few others, are expected to create 1,100 jobs.
“In addition to the important job training and economic development investments included in this legislation, the Economic Development Administration bill included an amendment important to Delaware’s families and farmers who have been hurt by high gas and corn prices. Last Thursday, my colleagues and I approved an amendment to end our unnecessary subsides for corn-based ethanol – also known as the Volumetric Ethanol Excise Tax Credit (VEETC) – and repeal the tariff on imported ethanol. It is unfortunate that this amendment is a victim of the frustrating gridlock in the Senate that is blocking job-creating bills like the Economic Development Revitalization Act. However, I am hopeful that with this strong vote in favor of repealing the corn-based ethanol tax credit we will be able to end the credit later this year or at the very least, we won’t renew it when it expires at the end of this year. I also remain hopeful that we will be able to get past this unproductive gridlock and work together to pass meaningful legislation to help Delawareans and all Americans.”