Rep. Maxine Waters Will Fight Whoever Stands in Way of Job Creation

California Congresswoman wants to repeal Obama's deficit reduction supercommittee

With black unemployment at a record high rate, the Congressional Black Caucus (CBC) has been waging a full court press to address the problem while making calculated criticisms of President Obama on where he’s fallen short on this subject. Of the CBC members, Rep. Maxine Waters (D-Calif.) has been one of the most vocal, telling the President to call black unemployment by it’s name publicly, while challenging voters to sic the CBC on Obama if they think it’s warranted. Next week is the Caucus’ Annual Legislative Conference where they will continue to pound the pavement about jobs.

Loop 21 talked with Rep. Waters about the President’s challenges with the economy, his American Jobs Act, the foreclosure crisis, and the federal deficit reduction “supercommittee." The Congresswoman is not backing down from her pressure to bring jobs to African Americans. She says she will fight for the American Jobs Act, but she’s not for any piecemeal compromise that will only add up to a bunch of tax cuts. Finally, Rep. Waters wants to get rid of that “illegitimate” supercommittee.

Loop 21: There seems to be plenty of endorsement from the Congressional Black Caucus of Obama’s American Jobs Act. Any caveats though?

Rep. Maxine Waters: Yes, I’m pleased the President did present what appears to be a substantial jobs act to create jobs by repairing the nation’s infrastructure, and schools across nation, and also investing in small communities. But the devil is in the details. I support the direction of this legislation and I will fight for it. We will all have to fight for it. There are a number of tax cuts for employers whether payroll or tax breaks to hire new workers. We have to make sure it’s not just a tax cut bill that’s only in anticipation of employers hiring, but that they are actually hiring. Now the real work begins.

Loop 21: Part of the American Jobs Act calls for an infrastructure bank, which you called for before the President’s jobs speech. But does it go far enough, targeting women- and minority-owned business like you described?

No, I don’t remember the infrastructure bank in Obama’s jobs proposal being described. The idea has been tossed around a lot and I could support the idea, but not one that would put government money in the hands of big banks. It would have to be directed toward community banks and CDCs (community development corporations) and CDFIs (community development financial institutions) in order to implement some kind of program. But not the big banks.

Loop 21: The Obama Administration recently sued 17 banks deemed responsible for the subprime mortgage meltdown. If successful, is this going to be an adequate remedy to bring justice to those who were preyed upon with those loans? [Read about five of the banks in that lawsuit here.]