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The Week in Economy and Jobs

On Thursday, the Senate passed the historic Wall Street reform bill.  The bill includes provisions to protect taxpayers from having to bail out big banks and provides for a number of common sense consumer protections.  The President is expected to sign this bill into law on Wednesday.

In his Weekly Address, President Obama called on Congress to pass measures to provide additional credit to small businesses and extend unemployment insurance – a measure that has come up in the Senate on three prior occasions.  Earlier in last week, NEC Director Lawrence Summers made the economic case for extending unemployment insurance in a blog post on WhiteHouse.gov. The CEA also released their fourth quarterly report on the economic impact of the Recovery Act.

Highlights

Weekly Address: Filibustering Recovery and Obstructing Progress
July 17, 2010
The President blasts Republicans in the Senate who are blocking unemployment insurance and small business tax breaks to create jobs -- even as they push for permanent, massive tax cuts for the richest Americans.

President Obama on Final Passage of Wall Street Reform: An End to Bailouts, a Beginning for Accountability
July 15, 2010
The President commends those in Congress who stood strong to pass Wall Street Reform against seemingly endless opposition from lobbyists and partisans.

President Obama on Advanced Batteries in Michigan: "A Symbol of Where America is Going"
July 15, 2010
The President speaks at the groundbreaking of an advanced electric vehicle battery plant in Holland, Michigan.

Electric Vehicles, Advanced Batteries, and American Jobs: Another Piece of the Puzzle in Holland, Michigan
July 15, 2010
Read the report from the Department of Energy on the economic impact of Recovery Act investments in advanced batteries and vehicles to understand the importance of the plants the

CEA Releases Fourth Quarterly Report on the Economic Impact of the Recovery Act
July 14, 2010
New report finds that the Act has had a substantial effect on output and employment, is leveraging private capital, and making important investments in the future productivity of the country.

The Economic Case for Extending Unemployment Insurance
July 14, 2010
NEC Director Lawrence Summers explains why extending unemployment insurance for those struggling to find work is not just a moral issue, but an economic one.

If It’s Working, Keep it Going!
July 12, 2010
Jared Bernstein, Chief Economic Advisor to the Vice President, writes on the need for Congress to renew a successful program that lets states use Recovery Act dollars to pay for part of a new employee’s wages, giving employers a strong incentive to hire unemployed workers.

Your Questions

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What's Ahead

• July 21 - President Obama signs the Wall Street Reform bill.

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