In a recent special session, the S.C. General Assembly took measures to ensure the business community takes the lead in our state’s economic recovery.
Until that private sector-led recovery impacts all corners of our state, lawmakers also adopted legislation to make sure President Barack Obama’s economic stimulus package continues to provide a bridge for South Carolina’s jobless residents struggling to make ends meet.
Speaking recently on a Sunday news program, Obama’s Treasury Secretary Timothy Geithner described the stimulus package – a mixture of tax breaks for residents and businesses, funding for public works projects and additional money for state and local government – as a means to stabilize the economy amid a crisis.
Geithner emphasized the government’s role in the recovery is temporary as the economy heals.
“But what the government has to do in a crisis is to provide a bridge until the economy can repair itself and businesses are confident enough to start to invest again,” said Geithner, who later added: “And again, that’s only a bridge. You’re not going to get real recovery until it’s led by the private sector, by businesses.”
For their efforts during the Special Session, lawmakers secured a deal with Boeing, which will build a second assembly line for its new 787 aircraft, the Dreamliner. Over seven years, Boeing plans to invest more than $750 million and create at least 3,800 jobs. That’s a tremendous investment which will take some time to come into fruition.
While the seeds of recovery take root, the General Assembly moved to restore support for those who have lost their jobs. South Carolina has one of the nation’s highest unemployment rates with more than 250,000 jobless residents.
Under the stimulus package, states facing unusually high and prolonged unemployment – like South Carolina – qualify to have jobless residents receive an additional 13 weeks or 20 weeks of unemployment benefits paid entirely by the federal government.
Last month, the General Assembly acted to ensure our jobless residents can receive the entire extra 20 weeks of unemployment benefits – at no cost to state government or businesses. As a result, thousands of residents will be able to provide for their families – just as the holiday season approaches.
It’s a well-timed way to mark the season of giving.
Contact Sen. Williams at his Columbia office located at 602 Gressette Office Building at (803) 212-6008 or by fax at (803) 212-6011. His district office is located at 137 Airport Road, Suite J, Mullins, SC 29574, the phone number is (843) 423-8237 and the fax number is (843) 431-6049 or email WILLIAMSK@scsenate.org.
Sen. Williams’ business phone is (843) 423-3904.
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