U.S. Senator Amy Klobuchar (D-MN), Senate Chair of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics released its September 2014 employment report, which showed that the U.S. economy added 248,000 total nonfarm jobs and the unemployment rate fell to 5.9 percent.
Report shows Midwest consumers spent $561 million more
than in previous winters
Klobuchar passed legislation recently signed into law
to help better address future propane shortages, calls for continued work as winter
nears
WASHINGTON, D.C. – U.S. Senator Amy Klobuchar (D-MN), Vice Chair of the U.S. Congress Joint Economic Committee, today released a report examining the impact propane price spikes have on the economy.
Last winter the price of propane doubled to more than $4 per gallon in the Midwest, and remained high for an extended period of time.
The report found that last winter’s price spikes had a major financial impact on families in the Midwest, and Minnesota in particular. Compared with the average amount of money spent on propane during the previous five winters, Midwest families spent $561 million more in the winter of 2013-14.
“My report confirms what so many Minnesota families and businesses felt firsthand last winter: the propane shortage had significant financial consequences,” said Klobuchar. “Minnesotans rely heavily on propane to keep warm during the brutally cold winter months. That’s why I worked with Sen. John Thune to pass bipartisan legislation to help address future shortages, and I will continue to work to make sure this vital energy source is readily available for consumers.”
The report found:
- Minnesotans spent $71 million more on propane in the
winter of 2013-14 compared to the average of the previous five winters. Only
Michigan residents had a bigger increase in the Midwest. - 91.7 percent of houses heated with propane in the
Midwest are in rural areas, which are unlikely to have access to natural gas
distribution systems. Nearly half of households using propane for heating earn
less than $50,000. - While only 4.8 percent of U.S. households use propane
to heat their homes, 10.2 percent of homes in Minnesota, Iowa, Missouri,
Nebraska, North Dakota, South Dakota, and Kansas use it for heating.
The full report can be found here.
Since the propane shortage hit last winter, Klobuchar has taken several steps to bring relief to Minnesotans. She passed bipartisan legislation with Senator John Thune that was recently signed into law to allow governors greater autonomy to declare emergencies and require the Energy Information Administration to provide early warnings to governors if the inventory of residential heating fuel falls below recent averages. She also crafted legislation to make it easier to transport propane to communities impacted by the shortage, which was signed into law earlier this year. During the height of the propane crisis, Klobuchar also successfully pushed the Federal Energy Regulatory Commission to prioritize propane shipments
Klobuchar became Senate Chair of the Joint Economic Committee (JEC) at the beginning of the 113th Congress. The JEC is a bicameral Congressional Committee composed of ten members from each the Senate and the House of Representatives. There are ten Democrats and ten Republicans on the Committee. The main purpose of the JEC, which was established by the Employment Act of 1946, is continually study matters relating to the US economy. The Committee holds hearings, performs research and advises Members of Congress.
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In fiscal year 2013, Ex-Im Bank supported $37.4 billion of U.S. exports and more than 200,000 jobs
Klobuchar report shows that exports are critical to manufacturing: From 2009 to 2013, manufacturing exports increased 38 percent; Nearly 25 percent of production in the manufacturing sector is exported, supporting three million manufacturing jobs
WASHINGTON, D.C. – U.S. Senator Amy Klobuchar (D-MN), Vice Chair of the U.S. Congress Joint Economic Committee, today released a report outlining the impact the Export-Import Bank has on the U.S. economy. The report highlights the critical role exports have played during our economic recovery and shows that the Ex-Im Bank supported more than 200,000 U.S. jobs and $37.4 billion in U.S. exports in fiscal year 2013 alone. The Ex-Im Bank provides loans, loan guarantees, and insurance policies to increase export opportunities for U.S. businesses and will expire at the end of the September unless it’s reauthorized by Congress.
Klobuchar’s report also shows that exports are critical to the manufacturing sector. From 2009 to 2013, manufacturing exports increased 38 percent. Nearly 25 percent of production in the manufacturing sector is exported, supporting three million manufacturing jobs, the report found. In addition, the agriculture sector has increased its exports by 37 percent since 2009.
“This report underscores the important role the Export-Import Bank plays in helping small businesses in Minnesota and throughout the nation sell their products across the globe,” said Klobuchar. “Exports have played a critical role in lifting up local economies, and we need to make sure our businesses have the support they need to compete on a level playing field.”
Last year, the United States exported nearly $2.3 trillion in goods and services, the highest level on record. This accounted for more than 13 percent of our gross domestic product. According to one analysis, exports are projected to account for almost 40 percent of real U.S. GDP growth over this decade.
In Minnesota, the Export-Import Bank has supported nearly $2 billion in exports over the last seven years. From Superior Industries in Morris to Balzer in Mountain Lake, more than 170 Minnesota firms, two-thirds of which are small businesses, received financing from the Ex-Im Bank.
The Ex-Im Bank allows U.S. firms to compete on a more level playing field with countries around the globe that have their own export-supporting programs. Approximately 60 other countries, including the top ten exporting countries globally, have export credit programs. Moreover, the Ex-Im Bank often returns money to the Treasury, including more than $1 billion last year.
Klobuchar is a leader in efforts to boost America’s ability to compete in the global economy, working to cut red tape for businesses and open up new markets to U.S. exports. She serves on the President’s Export Council, and in 2010 she passed legislation—the Export Promotion Act—to help small- and medium-sized businesses sell their products in international markets.
The full report can be found here.
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WASHINGTON, D.C. – U.S. Senator Amy Klobuchar (D-MN), Vice Chair of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics released its August 2014 employment report, which showed that the U.S. economy added 142,000 total nonfarm jobs and the unemployment rate dropped from 6.2 percent to 6.1 percent.
"While the August employment report showed private-sector job growth for the 54th straight month, it makes clear that it is time for Congress to work together on common-sense policies that will help provide certainty to people and businesses in Minnesota and across the country. From investing in much-needed infrastructure projects to reforming our broken tax code, there are many steps we can take to make sure our economy is on a path to long-term success,” said Klobuchar.
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Aug 05 2014
Klobuchar Releases New Report Highlighting the Economic Importance of Keeping Rural Communities Healthy
While many rural hospitals have been recognized for providing high-quality care, expanding access to quality health care remains a challenge
Klobuchar’s report shows that rural areas have only 54 specialists for every 100,000 residents, compared to 134 for every 100,000 in urban areas; report also shows patients living in rural areas must travel greater distances to see doctors, with over 40 percent of rural residents having to travel more than 30 minutes to a hospital
Report highlights the economic importance of ensuring rural communities have access to quality health care and outlines key policy priorities to improve access, including protecting the Critical Access Hospital program, funding programs that attract doctors to rural areas, and expanding telehealth programs
WASHINGTON, D.C. – U.S. Senator Amy Klobuchar, Vice Chair of the U.S. Congress Joint Economic Committee (JEC), today released a new report highlighting the economic importance of keeping America’s rural communities healthy. While many rural hospitals have been recognized for providing high-quality care, expanding access to quality health care remains a challenge in many parts of the country. Klobuchar’s report shows that rural areas have only 54 specialists for every 100,000 residents, compared to 134 for every 100,000 in urban areas. The report also shows patients living in rural areas must travel greater distances to see doctors, with over 40 percent of rural residents having to travel more than 30 minutes to a hospital.
The report highlights the economic importance of ensuring rural communities have access to quality health care and outlines key policy priorities to improve access, including protecting the Critical Access Hospital program, funding programs that attract doctors to rural areas, and expanding telehealth programs.
“Healthy rural communities lead to healthy local economies,” Klobuchar said. “Ensuring that rural communities in Minnesota and across the country have access to health care can help boost worker productivity, improve quality of life, and drive economic growth. This report makes clear that improving rural Americans’ access to affordable, quality health care is the right thing to do for rural communities and for our economy."
Klobuchar’s report shows that limited access to health care in rural communities can have negative economic impacts. For example, rural areas rely on small businesses and the self-employed more than urban economies, and a business that relies on the health of a few workers may be more affected when an employee gets sick than a larger business. Additionally, some employers may take access to health services into consideration when deciding where to locate their businesses.
The report also outlines a number of policy proposals to help ensure that rural Americans can access quality health care and contribute to the economy, including protecting the Critical Access Hospital Program, funding programs that attract doctors to rural areas, enhancing training for rural health care practitioners in preventive services, and expanding Telehealth Resource Centers and the Telehealth Network Grant Program.
Klobuchar has long supported the role Critical Access Hospitals play in rural communities. Earlier this year, she cosponsored legislation that would repeal a rule limiting the care Medicare recipients can receive at rural hospitals. Last year, along with Senator Al Franken and Representatives Collin Peterson, Betty McCollum, Rick Nolan, and Tim Walz, Klobuchar also urged the Medicare program to reject recommendations that would remove the “necessary provider” designation for Critical Access Hospitals that fail to meet the distance requirements.
The full report can be found here.
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WASHINGTON, D.C. – U.S. Senator Amy Klobuchar (D-MN), Vice Chair of the U.S. Congress Joint Economic Committee (JEC), released the following statement on the Bureau of Labor Statistics’ July 2014 jobs report showing that 209,000 total nonfarm jobs were added and the unemployment rate increased from 6.1% to 6.2%:
“Today’s employment report shows that our economy added more than 200,000 jobs for the sixth straight month after a strong second quarter of growth. As our economy shows signs of picking up steam, we need to remain focused on helping more hardworking Americans get back on the job, particularly those facing prolonged unemployment. Through more targeted workforce training programs and expanded access to quality education, we can ensure that more and more Americans have a fair shot to get ahead.”WASHINGTON, D.C. – U.S. Senator Amy Klobuchar (D-MN), Vice Chair of the U.S. Congress Joint Economic Committee (JEC), released the following statement on the Bureau of Labor Statistics’ June 2014 jobs report showing that 288,000 total nonfarm jobs were added and the unemployment rate fell from 6.3% to 6.1%:
“Today’s employment report marks 52 consecutive months of private-sector job growth and shows our economy is on stronger footing as we head into the summer. But as I said when the President visited Minnesota last week, too many working families are still treading water. Our focus now must be on solutions that strengthen the middle class and give more hardworking Americans a fair shot by raising the minimum wage, making college more affordable, and investing in workforce training.”
WASHINGTON, D.C. – U.S. Senator Amy Klobuchar (D-MN), Vice Chair of the U.S. Congress Joint Economic Committee (JEC), released the following statement on the Bureau of Labor Statistics’ May 2014 jobs report showing that 217,000 total nonfarm jobs were added and the unemployment rate remained unchanged at 6.3%.
"May was another solid month for job growth, with our economy continuing to pick up steam as we head into the summer. But we still have more work to do to get people back on the job, especially the long-term unemployed. At a time when more and more jobs require some form of secondary education, one thing we can do to move our economy forward is expand access to quality education and training opportunities that will help give more hard-working Americans a fair shot to get ahead.”
The number of long-term unemployed workers declined in May, as did the number of those working part time for economic reasons.
Report cites unanticipated refinery closures as one key factor in last year’s gasoline shortages and resulting price swings
After Klobuchar introduced legislation requiring refineries to report maintenance schedules to the Department of Energy, the Energy Information Administration (EIA) has begun releasing information about planned oil refinery outages to avoid overlapping closures
WASHINGTON, D.C. – U.S. Senator Amy Klobuchar (D-MN), Vice Chair of the U.S. Congress Joint Economic Committee, today released a report outlining the economic costs of last year’s spike in Midwestern gas prices, showing it cost businesses and consumers in Minnesota more than $109 million dollars and totaled $1 billion across the Midwest region. The report cites unanticipated refinery closures as one key factor in last year’s gasoline shortages and resulting price swings.
After Klobuchar introduced legislation requiring refineries to report maintenance schedules to the Department of Energy to help prevent simultaneous closures and avert shortages after multiple refinery closures led to a surge in gas prices, the Energy Information Administration (EIA) has now begun releasing new information about planned oil refinery outages to avoid overlapping closure that could lead to price spikes.
“This report clearly outlines the economic pain wrought on Minnesota by last year’s gasoline price spikes, which took more than $100 million dollars out of our state economy,” Klobuchar said. “The Administration is now acting on my recommendations for improving information about refinery outages, and I will keep pushing to help prevent future supply disruptions and price spikes.”
Klobuchar’s report shows that the average retail price for a gallon of regular gasoline in Minnesota shot up 81 cents between April 15 and May 20 of last year. Prices did not come back down until five weeks after that peak. During that same time frame, prices for a regular gallon of gasoline increased by 42 cents across the Midwest region.
While a number of factors can influence the national cost of gasoline, regional price spikes are often triggered by problems in local refinery output and distribution. This was the case in the Midwest last year, when a number of routine refinery closings coincided with additional, unanticipated shutdowns. Those closures, combined with transport and delivery delays, caused a supply chain breakdown and region-wide gasoline shortages.
In addition to its provisions addressing refinery closures, Klobuchar’s bipartisan Gas Prices and Refinery Capacity Relief Act would also address the issue of low gasoline storage capacity in the Midwest, by asking the Secretary of Energy to look at the potential for additional fuel storage in the region. Klobuchar has also worked to crack down on excessive oil speculation on Wall Street and deliver more options to consumers at the gas pump, working to promote an “all of the above” energy agenda integrating next generation biofuels with traditional fuel sources.
The full report can be found here.
May 21 2014
Klobuchar Holds JEC Hearing to Discuss Efforts to Strengthen Women’s Financial Security in Retirement
Klobuchar recently released a report showing that lower lifetime earnings significantly impact women’s savings, pensions and Social Security benefits: Women age 65 and older collect $11,000 less in annual median income than men
Klobuchar is a cosponsor of the Paycheck Fairness Act to ensure fair pay for women at all stages of their careers
WASHINGTON, D.C. – U.S. Senator Amy Klobuchar, Vice Chair of the U.S. Congress Joint Economic Committee, today held a hearing examining the unique challenges women face in retirement and discussing efforts to strengthen their financial security. Klobuchar recently released a report showing that lower lifetime earnings significantly impact women’s savings, pensions and Social Security benefits: Women age 65 and older collect $11,000 less in annual median income than men. Klobuchar is a cosponsor of the Paycheck Fairness Act and called for policies to help more women save and plan for retirement and ease the financial burden on women who take time out of the workforce to care for children or aging parents.
“With America’s senior population expected reach over 72 million by the year 2030, retirement security must be an increasingly key pillar in any plan to strengthen the middle class and expand economic opportunity,” Senator Klobuchar said. “Women face unique challenges in planning for retirement, and we need to be sure they have the ability to save and build financial security for themselves and their families.”
Women face greater financial risk in retirement than men, as they not only tend to live longer but also typically earn less during their working years. Women who work full time earn about 80 cents for every dollar men earn and, as noted in Klobuchar’s recent report, those lower lifetime earnings often translate into lower Social Security payments, pension incomes and personal savings: The average monthly Social Security check for female retirees is 78 percent of what it is for male retirees, and women’s median income from company or union pensions is 53 percent of men’s median income from those sources.
Two-thirds of family caregivers are women, and those who take time out of the workforce to care for children or aging loved ones spend, on average, 12 fewer years in the paid workforce. In addition to lost wages, family caregivers also pay roughly $5,500 per year in out of pocket expenses. Klobuchar has introduced legislation that would help ease that financial burden, by allowing families to qualify for a federal tax credit of up to $1,200 per year.
