Washington, D.C. - Rep. Berman commended the President for laying out a plan to create jobs, cut the deficit, hold big banks accountable, and keep middle class jobs here in America in his State of the Union address tonight.  The President renewed his commitment to a new long-term economic strategy for America that invests in a globally competitive workforce, clean energy jobs, health insurance reform that will create four million more jobs over the decade, and accountability for Wall Street and the big banks to protect us from another economic collapse. 

President Obama also announced a National Export Initiative to double the United States’ exports over the next five years to support two million jobs.  As Chairman of the House Foreign Affairs Committee, Congressman Berman has been instrumental in working to improve our export system.

“Our current export-control regime, founded during the Cold War and last revised by law in 1979, is out of date.  It needs to be brought into the 21st century in order to maintain U.S. technological leadership while continuing to protect sensitive technologies,” Berman said.

Domestically, Democrats have already delivered on their promise to fight for middle class families – helping jumpstart the economy with the Recovery Act, lowering taxes, insuring more children and helping ensure the right to fair pay for all Americans.  Today, President Obama laid out a series of policy initiatives that will build on those achievements to improve our economy for middle-class Americans including making it easier for students to pay off their loans, helping families with soaring child care and elderly care costs, and giving all workers more tools to save for their retirements.  These common sense initiatives will build on the recent work of House Democrats, including the Jobs for Main Street Act passed in December, to help Americans who are struggling to make ends meet.  The Senate is working on a similar jobs measure now.

President Obama joined House Democrats in calling for real change on Wall Street, echoing the need for common sense reforms to hold big banks and hold financial firms accountable.  Wall Street banks helped create this economic crisis and must be held accountable.  Bankers are still taking the same kind of irresponsible risks that led to the financial crisis while California families are struggling to put food on the table and small businesses have to shut their doors.  Working with President Obama, we’ll put an end to the type of reckless behavior on Wall Street that caused this disaster.