Durbin, Schakowsky Meet with Displaced Workers, Discuss Re-Training Opportunities and Patriot Employers Act

Press Release

U.S. Senator Dick Durbin (D-IL) and Representative Jan Schakowsky (D-IL) will introduce legislation next week to reward companies that invest in American jobs, pay decent wages, provide good benefits, and support their employees when they are called to active duty. The Patriot Employer Act would provide a tax credit to companies that make a commitment to American workers.

"When companies make headlines today it is often for all the wrong reasons: failure, fraud, tax avoidance and profiteering," Durbin said. "Americans have had enough with a corporate culture that rewards bad behavior and ignores the average worker. While some companies look for ways to avoid their responsibility to employees, others stand out for how they treat their workforce. It is time for Patriot Employers to be recognized for doing right by their workers, customers and shareholders."

"The Patriot Corporation Act would reward companies that invest in our nation and its workers," said Congresswoman Schakowsky. "Americans have had enough of businesses offshoring jobs and skirting the law to increase their bottom line. We must stop rewarding outsourcers and tax dodgers, and make corporations earn their tax incentives by investing in America and American workers. Our bill will create a new patriotic corporate ethic in America that unites workers and their employers in the mutual goal of building a stronger, more prosperous democratic business sector to compete in the twenty-first century global economy."

The Patriot Employers legislation would provide a tax credit equal to 1% of taxable income to employers that:

* Invest in American jobs, by maintaining or increasing the number of full-time workers in America relative to the number of full-time workers outside of America AND by maintaining corporate headquarters in America if the company has ever been headquartered in America.

* Pay decent wages, by paying each worker an hourly wage that would ensure that a full-time worker would earn enough to keep a family of three out of poverty (at least $ 7.80 per hour).

* Prepare workers for retirement, by providing either a defined benefit plan OR a defined contribution plan that fully matches at least 5% of worker contributions for every employee.

* Provide health insurance, by paying at least 60% of each worker's health care premiums.

Source