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Republicans Hurt Construction Jobs, Stocks

Speaking of job-killing legislation:

House Republicans — despite urging by Democrats, businesses and even members of their own party — didn't change some provisions in their rules package that could jeopardize transportation funding and building trades jobs.

Democratic Reps. Joe Courtney (Conn.), Peter Welch (Vt.) and Laura Richardson (Calif.) sent a letter Tuesday to Republican leaders urging them to adopt an amendment to their rules package that would ensure funding for the Highway Trust Fund and protect building trades jobs.

They say the Republicans' proposed rule change would "undermine" the Highway Trust Fund and further "destabilize the already-devastated industry."

The financial firm UBS downgraded a number of construction companies' stocks Wednesday, citing the GOP rule, according to a Democratic aide [Vicki Needham, "Rule could endanger transportation budget, building trade jobs sector," TheHill.com, 2011.01.05].

Under this GOP rule, states could lose road funds. The Chamber of Commerce and various contractors' associations said, But Representative Kristi Noem followed her GOP bosses in Don't do it!voting for this job-killing rule change.