Hultgren Welcomes Encouraging January Jobs Report

From the office of House Representative Randy Hultgren (R-IL, 14th)



Washington, D.C. - February 5, 2018 - (The Ponder News) -- U.S. Representative Randy Hultgren (IL-14) welcomed news that American employers added 200,000 jobs in January, and wages rose at their fastest pace in more than eight years. Many employers with locations throughout the 14th Congressional District have delivered higher wages, more bonuses and more investments, and have cited as a contributing factor the passage of the Tax Cuts and Jobs Act.

Click here for an ongoing list of employers who are taking action as a result of the legislation.

“My number one priority in Congress has always been getting Illinois back to work, and that’s going to be my continued laser focus. These jobs numbers at the beginning of the year give us great hope for 2018. American employers are enthusiastic about the Tax Cuts and Jobs Act and a predictable economy—and American workers and families are reaping the benefits,” said Rep. Hultgren. “Employers throughout northern Illinois and the 14th District are confident in the direction of our economy, and are already delivering higher wages, more bonuses and investing more to expand and hire.”

MANCHIN INTRODUCES LEGISLATION THAT PUTS WORKERS AND THEIR HARD-EARNED RETIREMENT FIRST

Washington, D.C. - October 5, 2017 (The Ponder News) -- U.S. Senator Joe Manchin (D-WV) today introduced the Prioritizing Our Workers Act (POWA), legislation that would revise the priorities section of the bankruptcy code to place unpaid vested benefits in defined benefit pension plans at the front of the line.

“Every pay period, hard-working Americans choose to defer their hard-earned wages in order to earn pension benefits for their retirement. That pension gives them a piece of mind that their future, and their family’s future, will be funded, taken care of, and without worry,” Senator Manchin said. “However, companies that file for bankruptcy are frequently relieved of their obligation to give pensions back to their workers and are able to use the money that should have funded those workers’ hard-earned retirement benefits for other bankruptcy costs. Retired employees are left high and dry with no other way to pay for their bills through no fault of their own. This is not just or right and it’s not the American way. I am proud to introduce this legislation that will make sure companies that file for bankruptcy keep their promises to their workers first.”

When employer sponsors of pension plans fail to make required contributions to these pensions and go bankrupt, current law provides a priority claim for unpaid pension contributions. However, these priority claims are only necessary for contributions due within 180 days before a bankruptcy filing, and up to $10,000 per worker. These claims must also compete with other priority claims for payment in the event of an employer bankruptcy.

A large portion of American workers feel the impact of cut pension benefits. According to the Pension Benefit Guarantee Corporation’s 2016 Annual Report and 2015 Multiemployer Guarantee Study, over 146,000 workers experienced cuts in their pension benefits as a result of employer bankruptcies in 2016 alone.

“By introducing POWA, we are ensuring workers, the backbone of our nation’s economy, that they will receive their hard earned pensions,” Senator Manchin said. “Companies enter bankruptcy for a number of reasons, but the decisions that lead to this unfortunate outcome are made by management, not workers. Yet, far too often, workers bear the brunt of the bankruptcy pain by sacrificing their hard-earned pension benefits. This bill remedies the problem, and gives assurance to our laborers that they won’t be left to suffer in the event of a bankruptcy.”

“American bankruptcy laws are a travesty for working families, who are left with nothing when a company goes bankrupt while the big banks and corporate executives walk away with millions. It is long past time for Congress to take action to reform bankruptcy laws. Senator Manchin's bill takes a huge step toward leveling the playing field for workers, and we support it wholeheartedly,” said Cecil Roberts, International President of the United Mine Workers of America.

The POWA would change bankruptcy practices to benefit workers who paid toward a pension at a company filing for bankruptcy. This is accomplished by:

Re-defining all claims for unpaid vested benefits in defined benefit pension plans as “administrative expenses” of the firm. Under bankruptcy law, these expenses must be paid before all other claims, excluding claims for child and family support.

Putting pensions benefits on the same level as bankruptcy attorney fees and other high-priority claims a company must pay out before paying any other claims.

Its companion was introduced in the House of Representatives by Reps. Tim Ryan (D-OH) and Donald Norcross (D-NJ).

REPEAL OF PREVAILING WAGE LAW WILL EXPAND OPPORTUNITY FOR WISCONSIN VETERANS

Source: Concerned Veterans for America

Madison, WI - September 22, 2017  (The Ponder News) -- Governor Scott Walker signed the state budget, which includes a full repeal of Wisconsin’s prevailing wage law. Concerned Veterans for America (CVA) recently urged members of the Assembly and Senate to move forward with a repeal of the prevailing wage.

CVA Policy Director Dan Caldwell issued the following comment:

“The prevailing wage will no longer stand between Wisconsin veterans and the employment opportunities they deserve in the construction industry. The prevailing wage law padded the pockets of unions while limiting opportunity for veterans and sticking taxpayers with the costs. This law restricted competition and prevented small businesses from creating and maintaining jobs.

“It is important to acknowledge Senator Leah Vukmir and Rep. Rob Hutton who spent years working for this reform. We applaud Governor Walker for speeding up a repeal of the prevailing wage in Wisconsin through a line-item veto and thank Senators Stroebel, Kapenga and Nass for fighting to make that possible.”

Earlier this year, CVA released web ads targeted at Wisconsin legislators. The ads highlighted the positive impact that a prevailing wage repeal would have on veterans in the state. CVA also released a memo which refutes the myth, propagated by union-backed groups, that veterans support prevailing wage laws.

Prevailing wage laws, which were adopted in Wisconsin nearly 85 years ago, mandate that contractors are paid based on rates decided by unions. Instead of having the market determine how much these services are valued by the state, union bosses get to decide – and then taxpayers get stuck with the bill. Prevailing wage laws result in higher taxpayer costs and can limit the ability of many small businesses to compete for government work.

Legislation Introduced to Raise the Wages of Working Families

Source: House Representative Tim Ryan (D-OH, 13th)

Washington, D.C. - September 14, 2017 (The Ponder News) -- Congressman Tim Ryan (D-OH) joined Rep. Ro Khanna (D-CA) to introduce legislation in the House that would give working families a much-deserved wage boost to compensate for 40 years of wage stagnation. Companion legislation has been introduced in the Senate by Sen. Sherrod Brown. The Grow American Incomes Now (GAIN) Act would greatly expand the Earned Income Tax Credit (EITC) so that more working families and childless workers are eligible to receive it. The bill comes at a time when the Trump Administration and Republicans are supporting devastating budget cuts to programs that help working families in exchange for tax breaks for the very wealthy and big corporations.

The GAIN Act roughly doubles the EITC for working families and increases the credit for childless workers almost six-fold. Under the proposal, the maximum tax credit available increases to $12,131 for families with three or more qualifying children; $10,783 with two qualifying children; $6,528 with one qualifying child; and $3,000 with no qualifying children. Currently, a family of three can receive a maximum credit of $6,318 and someone with no children can receive at most a $510 tax credit.

The proposed EITC expansion would also be phased out at higher income levels and remain fully refundable. It would allow for a worker with no children who makes up to $37,113 annually to still be eligible to receive the tax credit and covers a family with three or more children making up to $75,940 a year to receive the EITC. The current maximum qualifying income to receive the EITC is $15,010 for childless workers and $48,340 for families with three or more children.

“America is the richest nation in the history of the world, and yet still too many hardworking families are living paycheck to paycheck. Wages for low-income and middle-class families haven’t gone up in over 30 years, while massive amounts of wealth have gone to the top one percent. This trend is not sustainable, and will not allow long-term economic success for the United States. It is about time we make sure American workers are given a fair wage for a fair days work. That is why I am proud to be an original cosponsor of the GAIN Act, which would provide for a $1 trillion expansion of the Earned Income Tax Credit (EITC). This would put an extra $12 thousand dollars in the pockets of hardworking families making $75 thousand a year. This bill will give Americans the raise they deserve,” said Rep.Tim Ryan

“The EITC is already proven at lifting people out of poverty. By strengthening it to reach more families and individuals, it can have a lasting impact on our economy,” said Rep. Ro Khanna. “In today's age of automation and globalization, where work is sometimes seasonal and hours are often curtailed, this bill provides every hard-working American with a fair income for their labor.”

The bill also recognizes many Americans live paycheck to paycheck and includes a provision that would provide an Early Refund EITC as an alternative to payday loans and other predatory lending products. EITC advances would be capped at $500 each taxable year and would be subtracted from the recipient’s total credit when they file their annual tax return. Instead of receiving the lump sum once a year, this early refund makes it easier for working families and individuals to pay their monthly bills and provide financial security. The bill also lowers the qualifying age for the EITC from 25 years old to 21 years old.

Who Benefits from the EITC

More than 26 million working families and individuals in every state received the EITC in 2015 according to the Center on Budget and Policy Priorities. Under the bill, it is estimated that nearly half of American households will pay no federal individual income tax in 2017, up from the 44 percent under current law.


Current Maximum Credits vs. the Brown-Khanna GAIN Act

Type of household Current maximum amount of credit (2017 Tax Year)

Maximum amount of credit under Brown-Khanna

Three or more qualifying children $6,318 / $12,131

Two qualifying children $5,616 / $10,783

One qualifying child $3,400 / $6,528

No qualifying children $510 / $3,000


Legislation and cosponsors

House cosponsors (as of 9/11/17): Joyce Beatty (D-OH), Don Beyer (D-VA), Robert Brady (D-PA), Julia Brownley (D-CA), George Kenneth Butterfield (D-NC), Matt Cartwright (D-PA), Steve Cohen (D-TN), Bonnie Watson Coleman (D-NJ), John Conyers (D-MI), Yvette Clarke (D-NY), Elijah Cummings (D-MD), Peter DeFazio (D-OR), John K. Delaney (D-MD), Keith Ellison (D-MN), Dwight Evans (D-PA), Marcia L. Fudge (D-OH), John Garamendi (D-CA), Vicente Gonzalez (D-TX), Raul Grijalva (D-AZ), Luis V. Gutierrez (D-IL), Colleen Hanabusa (DHI), Pramila Jayapal (D-WA), Robin Kelly (D-IL), Barbara Lee (D-CA), Sheila Jackson Lee (D-TX), Gwen Moore (DWI), Jerrold Nadler (D-NJ), Grace F. Napolitano (D-CA), Donald Norcross (D-NJ), Eleanor Holmes Norton (DWA), Frank Pallone Jr. (D-NJ), Jamie Raskin (D-MD), Bobby Rush (D-IL), Tim Ryan (D-OH), Jan Schakowsky (DIL), Bobby Scott (D-VA), Jose E. Serrano (D-NY), Darren Soto (D-FL), Nydia Velazquez (D-NY), Maxine Waters (DCA), Peter Welch (D-VT), Frederica Wilson (D-FL)