Press Releases

WASHINGTON – Today U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) joined Sens. Bernie Sanders (I-VT) and Patty Murray (D-WA) in introducing the Raise the Wage Act of 2021, which would raise the federal minimum wage to $15 by 2025.

A study conducted by the Commonwealth Institute found that approximately 1,018,000 Virginians would have their wages raised under the Raise the Wage Act of 2021, while another 254,000 Virginians who make just above the new minimum would see increases as well as employers seek to maintain wage scales and reward seniority. Combined, one in every three working people in Virginia will benefit from raising the wage. The vast majority of Virginians who would benefit are working adults helping to support themselves and their families – 92 percent are age 20 or older and 89 percent are working at least 20 hours a week. In Virginia, the General Assembly approved a gradual increase to the hourly minimum wage beginning May 1, 2021. 

“The COVID-19 pandemic has uncovered the economic disparities that already exist in this country. In the midst of an unprecedented economic and health crisis that has pushed millions of workers to the brink of poverty, the least we can do is ensure that our minimum wage is a living wage that allows folks who work a full-time job to make ends meet,” said Sen. Warner. “That’s why I joined my colleagues in introducing a bill that will help expand economic opportunity for more families.”

“Every day, millions of hardworking Americans struggle to put food on the table or pay the rent. These hardships have only been exacerbated by the COVID-19 pandemic,” said Sen. Kaine. “Raising the minimum wage will stimulate our economy and give people a fair shot at economic mobility.”

Specifically, the Raise the Wage Act of 2021 would increase the federal minimum wage over a four-year period from $7.25 to $15. It would also index future increases in the federal minimum wage to median wage growth in addition to phasing out the subminimum wage for tipped workers, youth workers, and workers with disabilities. According to an independent analysis conducted by the Economic Policy Institute, the Raise the Wage Act of 2021 would increase wages for nearly 32 million Americans, including roughly a third of all Black workers and a quarter of all Latino workers. 

The legislation is also cosponsored by Sens. Chuck Schumer (D-NY), Tammy Baldwin (D-WI), Michael Bennet (D-CO), Richard Blumenthal (D-CT), Cory Booker, (D-NJ), Sherrod Brown (D-OH), Maria Cantwell (D-WA), Ben Cardin (D-MD), Bob Casey (D-PA), Tammy Duckworth (D-IL), Dick Durbin (D-IL), Dianne Feinstein (D-CA), Kirsten Gillibrand (D-NY), Martin Heinrich (D-NM), Mazie Hirono (D-HI), Amy Klobuchar (D-MN), Patrick Leahy (D-VT), Ben Ray Lujan (D-NM), Ed Markey (D-MA), Jeff Merkley (D-OR), Chris Murphy, (D-CT), Jon Ossoff (D-GA), Alex Padilla (D-CA), Gary Peters (D-MI), Jack Reed (D-RI), Jackie Rosen (D-NV), Brian Schatz (D-HI), Tina Smith (D-MN), Debbie Stabenow (D-MI), Chris Van Hollen (D-MD), Raphael Warnock (D-GA), Elizabeth Warren (D-MA), Sheldon Whitehouse (D-RI), and Ron Wyden (D-OR).

Companion legislation was introduced in the House of Representatives by Reps. Bobby Scott (D-VA), Pramila Jayapal (D-WA), and Stephanie Murphy (D-FL).

A copy of the bill text can be found here, a section-by-section can be found here, and a fact sheet can be found here. 

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WASHINGTON – Today, U.S. Sens. Mark R. Warner (D-VA), Cory Booker (D-NJ), and Kamala Harris (D-CA) applauded Congressional passage of legislation they authored to make the largest single investment into minority-owned and community-based lending institutions in the nation’s history. Provisions of the Jobs and Neighborhood Investment Act passed as part of yesterday’s COVID-19 relief bill after Sen. Warner fought to include them in the legislative blueprint that served as the foundation for the final relief deal.

“With Black and Brown unemployment rates more than twice as high as they were at this time last year, we need to be doing everything we can to invest in our most vulnerable communities,” said Sen. Warner. “I’m proud to have fought for these provisions during bipartisan relief negotiations and I trust that they will help put the brakes on the hemorrhaging of jobs and shuttering of minority-owned businesses caused by this crisis. I urge the President to promptly sign this historic legislation into law so that that minority communities start seeing the relief they desperately need.”

“As we work to confront and recover from this public health and economic crisis, we need to be doing everything we can to invest in the communities that have been hardest hit by this pandemic and continue to bear the burden of longstanding structural inequities and systemic racism. The Jobs and Neighborhood Investment Act will expand critically needed access to capital for communities of color and will help to empower minority owned businesses to play an important role in our long-term economic recovery,” said Sen. Booker.  

“To help every American get through this crisis, we need to start by helping those who need it most—whether in distributing the vaccine or investing in communities. Our bill will do just that, by providing much-needed capital to communities of color and low-income communities across the country. I’m proud that it will soon become law. Moving forward, we must always remember that relief isn’t relief unless it reaches those who’ve been hardest hit,” said Sen. Harris.

Once signed into law, this legislation will provide $12 billion to community development financial institutions (CDFIs) and minority depository institutions (MDIs) to open the flow of emergency capital to countless small businesses located in minority and low- and moderate-income communities, which have been particularly hard-hit by COVID-19.

Joining Sens. Warner, Booker and Harris in introducing this legislation were Sens. Chuck Schumer (D-NY), Bob Menendez (D-NJ), Doug Jones (D-AL), Thom Tillis (R-NC), Mike Crapo (R-ID), John Boozman (R-AR), John Kennedy (R-LA), Tim Scott (R-SC), Lindsey Graham (R-SC), Roger Wicker (R-MS), Tina Smith (D-MN), Steve Daines (R-MT) and Cindy Hyde-Smith (R-MS).

A summary of the original Jobs and Neighborhood Investment Act is available here. Text of the bill is available here.

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WASHINGTON – U.S. Sen. Mark R. Warner (D-VA), a member of the Senate Banking Committee, released a statement regarding Treasury Secretary Steven Mnuchin’s request to not extend municipal and Main Street lending programs established under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Without an extension, the federal lending programs will expire at the end of the year:

“I’m deeply disappointed in the request from the Treasury Department to prematurely defund these important CARES Act 13(3) programs.  As I pointed out in my letter to the Secretary and Fed Chair last week, with cases rising throughout the country, we need every tool at our disposal to support the economic recovery in the months ahead. Now is precisely the wrong time to reverse course and limit our capacity to provide liquidity to a struggling economy.”

Sen. Warner, a former technology entrepreneur, has long worked to provide financial relief to the American economy amid the COVID-19 crisis. During a September Banking Hearing with Secretary Mnuchin and Federal Reserve Chairman Jerome Powell, Sen. Warner stressed the need for another COVID-19 relief package that properly supports Main Street and stimulates local economies by making significant investments targeted towards affected communities. To help with economic recovery efforts, Sen. Warner introduced the Jobs and Neighborhood Investment Act, legislation that would provide eligible community development financial institutions (CDFIs) and minority depository institutions (MDIs) with capital, liquidity, and operational capacity to serve minority and historically disadvantaged communities. A comprehensive list of his COVID-19-related work is available here.

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WASHINGTON – U.S. Sens. Mark R. Warner (D-VA), Elizabeth Warren (D-MA), Tom Carper (D-DE) and Tammy Baldwin (D-WI) announced the formation of a working group to develop legislative proposals and conduct oversight focused on fundamentally reforming corporate governance. This comes as the COVID-19 pandemic continues to underscore the urgency of reforming corporate practices that leave corporations with little to no savings, workers living paycheck-to-paycheck, and supply chains outsourced to the lowest bidder. 

"For far too long, many companies have disregarded broad-based growth and put short-term profits ahead of workers, fueling inequality and restricting opportunities for the poor, for young people, and for people of color. Short-term financial pressure often pushes corporations to forgo necessary long-term investments, ignore the threat of climate change, and concentrate opportunity in ways that exclude too many of our communities," said the senators. "We will work together on ways we can fundamentally reform corporate governance in America."  

The senators have each worked on proposals to hold American corporations accountable and create an economy that provides prosperity for all Americans.

  • Sen. Warner has introduced the Workforce Investment Disclosure Act to require companies to disclose investments in workers, urged the Securities and Exchange Commission (SEC) to require disclosure of companies' human capital management policies, and has pushed for better reporting of non-financial indicators covering a company's environmental, social, and governance (ESG) practices.
  • Sen. Warren has introduced legislation to transform corporate America, hold corporate executives personally accountable when their companies commit crimes, and empower workers and other stakeholders, not just shareholders. Her Stop Wall Street Looting Act would reform the private equity industry and she has been a leading voice in pressing corporations to address their role in fueling the climate crisis.
  • Sen. Baldwin has introduced legislation to: give workers a seat on corporate boards and restrict buybacks through her Reward Work Act and address abuses by activist hedge funds in her Brokaw Act.

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WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) announced $3,910,184 in Appalachian Regional Commission (ARC) funding for communities in Southwest and Southside Virginia. The funding, awarded through ARC’s POWER (Partnerships for Opportunity and Workforce and Economic Revitalization) Initiative, will go towards addressing substance-use disorders, improving broadband connectivity, strengthening rural economies and improving local infrastructure. 

“We are thrilled that these federal dollars will go help fund some of the top priorities for communities in Southwest and Southside Virginia,” said the Senators. “As the COVID-19 crisis continues, it’s essential that we keep bolstering rural economies, ensuring internet reliability, and supporting some of the most vulnerable Virginians.”

“POWER grants are playing a critical role in supporting coal-impacted communities in the Appalachian Region as they recover from COVID-19 by building and expanding critical infrastructure and creating new economic opportunities through innovative and transformative approaches,” said ARC Federal Co-Chairman Tim Thomas. “Projects like this are getting Appalachia back to work.”

The funding will be awarded as below:

  • $1,494,000 for the New River/Mount Rogers Workforce Development Area Consortium Board in Radford, Va. to tackle the substance-use disorder problem by coordinating the healthcare sector and the economic development and workforce sector to build a recovery ecosystem.
  • $793,500 for St. Mary’s Health Wagon in Wise County, Va. to establish a substance-use disorder treatment program using medication-assisted treatment.
  • $50,000 for LENOWISCO to develop a strategic plan to establish a fiber network in a 13-county region throughout Virginia, Kentucky, and Tennessee.
  • $39,744 for the Center for Rural Development to create a Rural Leaders Institute for Southwest Virginia.
  • $32,940 for the New River Valley Regional Commission to develop a plan to boost tourism and job growth by cultivating the natural assets around the New River.
  • $1,500,000 for Henry County, Va. to make utility improvements to provide a natural gas pipeline to the Commonwealth Crossing Business Center.

ARC is an economic development agency of the federal government and 13 state governments focusing on 420 counties across the Appalachian region. Its mission is to innovate, partner, and invest to build community capacity and strengthen economic growth in Appalachia and help the region achieve socioeconomic parity with the nation. ARC’s POWER Initiative targets federal resources to help communities and regions that have been affected by job losses in coal mining, coal power plant operations, and coal-related supply chain industries due to the changing economics of America’s energy production.

 

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WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) and Chris Van Hollen and Ben Cardin (both D-MD) applauded the U.S. Department of Agriculture’s decision to allow oyster and clam businesses to access funds included within the CARES Act Coronavirus Food Assistance Program. The Senators penned a letter in July urging USDA to include these businesses – many of which are small and family owned – given the economic hardship they’re facing due to the COVID-19 pandemic.

“Like other agricultural producers, the seafood and shellfish aquaculture industry in Virginia has suffered greatly as a result of this health and economic crisis,” said Senator Warner. “Compounded by supply chain and labor disruptions, this financial blow has strained many family-owned businesses who now find themselves with their backs against the wall. That’s why I’m glad that USDA has finally complied with our request to include these businesses in the relief programs established and funded by Congress. I trust that this will provide many independent seafood businesses with the reprieve they need to continue operations and emerge stronger after this crisis is over.”

“Virginia’s shellfish farmers are hurting. Due to the pandemic, they have experienced massive losses in sales that would normally go to restaurants. We have continually pushed USDA to do all that they can to help our shellfish producers withstand these difficult circumstances. This move by the USDA will provide much needed relief to these businesses, many of which are family owned and operated,” said Senator Kaine.

“Maryland’s small oyster and clam businesses are crucial to our local economy. But like many during this pandemic, they’re struggling to get by. Providing them access to these relief funds will help ensure that they can continue to make ends meet during this difficult time. I’m glad to see USDA heeded our calls, and I will continue working to support this vital local industry,” said Senator Van Hollen.

“Shellfish growing, harvesting and transport are vitally important to Maryland’s rural economies, and those engaged in these industries illustrate the hard work and determination that define so many of Maryland’s small businesses,” said Senator Cardin. “I’ve worked for years to expand markets and streamline regulations so these industries can expand, yet the pandemic has dealt an unforeseen blow to many producers. This assistance will provide a critical infusion of aid, hopefully allowing these aquaculture producers to persist until their markets return in full.”  

More details on the program, including application information, can be found here. USDA will be accepting applications from now through December 11, 2020.

 

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WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA) continued to raise the alarm regarding the urgent need to secure H-2B visas for seasonal seafood workers in Virginia and around the United States. 

In a letter to Secretary of State Mike Pompeo, Sen. Warner urged the U.S. Department of State to make clear that seafood companies seeking H-2B visas for their seasonal workers qualify for national interest exceptions (NIEs) to Presidential Proclamations 10014 and 10052which suspend entry to the United States for certain immigrant visa applicants through December 31, 2020 due to the COVID-19 pandemic. This clarification would help local businesses plan for seasonal seafood workers to obtain H-2B work visas for “travel necessary to facilitate the immediate and continued economic recovery of the United States.”

“With a half billion dollar economic impact, Virginia seafood is a key industry in the Commonwealth. Its success largely depends on seasonal workers, who shuck oysters, clams, and crabs, hand pick seafood meat, pack fish, and perform other critical tasks,” wrote Sen. Warner. “While seafood businesses have made good faith efforts to find local seasonal workers, employers often must rely on H-2B visas to fill difficult and labor-intensive positions. The industry is already confronting significant business challenges due to the pandemic, and now faces the potential for further economic harm unless it is able to access H-2B visas.”

In Virginia, the financial hardship of failing to secure visas for H-2B workers will be extreme, with the burden falling heavily on small, seasonal Virginia seafood companies already facing economic uncertainty due to the COVID-19 crisis,” he continued. “Without concrete guidance on the H-2B visa process as it relates to the Presidential Proclamations, our seafood industry remains in a perilous position, as businesses seek to survive the pandemic. I urge you to ensure congressionally-authorized H-2B visas are granted to seafood workers who meet the NIE guidelines.” 

The H-2B Temporary Non-Agricultural Visa Program allows U.S. employers to hire seasonal, non-immigrant workers during peak seasons to supplement the existing American workforce. In order to be eligible for the program, employers are required to declare that there are not enough U.S. workers available to do the temporary work.

Sen. Warner has long advocated for Virginia’s seafood processing industry – a community largely made up of rural, family-owned operations. In February, Sen. Warner urged the U.S. Department of Homeland Security (DHS) to release additional H-2B visas needed to support local seafood businesses in Virginia and states like Alaska, Maryland, and North Carolina. Additionally, Sen. Warner has successfully pressed the Trump Administration to extend a ban on offshore oil and gas drilling to Virginia in accordance with requests from Virginia’s coastal communities, whose seafood industries would have been be severely impacted by the Trump Administration proposal to allow offshore drilling.

The text of the full letter is here and can be found below.

Dear Secretary Pompeo: 

I write to urge you to clarify that seafood companies seeking H-2B visas for their seasonal workers, via the Temporary Nonagricultural Worker Program, do qualify for the national interest exemption to Presidential Proclamation 10052. 

With a half billion dollar economic impact, Virginia seafood is a key industry in the Commonwealth. Its success largely depends on seasonal workers, who shuck oysters, clams, and crabs, hand pick seafood meat, pack fish, and perform other critical tasks. While seafood businesses have made good faith efforts to find local seasonal workers, employers often must rely on H-2B visas to fill difficult and labor-intensive positions. The industry is already confronting significant business challenges due to the pandemic, and now faces the potential for further economic harm unless it is able to access H-2B visas. 

As you know, Presidential Proclamations (P.P.) 10014 and 10052 suspend entry to the United States for certain immigrant visa applicants through December 31, 2020, due to the COVID-19 pandemic. Both proclamations include National Interest Exceptions (NIE), which allow the government to issue H-2B work visas for “travel necessary to facilitate the immediate and continued economic recovery of the United States.” The proclamations further state that the NIE apply when at least two of three indicators are present: 

1.) The applicant was previously employed and trained by the petitioning U.S. employer. 

2.) The applicant is traveling based on a temporary labor certification (TLC) that reflects continued need for the worker. 

3.) Denial of the visa pursuant to P.P. 10052 will cause financial hardship to the U.S. employer. 

Many seafood companies in Virginia and around the United States depend on seasonal workers whose positions meet all three of the criteria listed above. In Virginia, the financial hardship of failing to secure visas for H-2B workers will be extreme, with the burden falling heavily on small, seasonal Virginia seafood companies already facing economic uncertainty due to the COVID-19 crisis. For example: 

1.) A bait fish packing operation in the Northern Neck of Virginia will lose approximately $150,000 in revenue each month without H-2B visa workers and will not be able to purchase bait fish from watermen or purse seine vessels. 

2.) A crab picking operation in Hampton Roads will lose five American full-time salary positions and approximately $600,000 in revenue each month without H-2B workers. 

3.) A Northern Neck bait fish operation will lose approximately $1M each month in combined bait fish purchases and profit in sales. As a result, American truck drivers, supervisors and office personnel will be laid off. 

4.) A bait fish operation will lose $350,000 each month in product sales without H-2B visas. 

While I understand that local consulates make individual visa approval decisions, I ask that the Administration clarify that seafood workers are covered by the NIE. Additionally, I ask that you provide a response to the following questions, either via writing or a meeting, by October 14, 2020: 

1.) Are all consulates aware of the clear NIE guidance for P.P. 10014 and 10052? 

2.) Do visa applicants and petitioning employers receive a clear explanation of factors that result in a visa being denied? If so, how is this explanation communicated? 

3.) What point of contact has the ultimate authority to provide such explanations? 

4.) What process is available for visa applicants who appear to meet all visa and NIE guidelines to have their H-2B visa denials reconsidered? 

Virginia seafood businesses, many of which are family-owned operations going back multiple generations, depend on the Department of State to issue congressionally-authorized H-2B visas in order to survive. Without concrete guidance on the H-2B visa process as it relates to the Presidential Proclamations, our seafood industry remains in a perilous position, as businesses seek to survive the pandemic. I urge you to ensure congressionally-authorized H-2B visas are granted to seafood workers who meet the NIE guidelines. Thank you for your careful attention to this critical matter.

Sincerely,

 

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WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA) participated in a virtual Senate Banking Committee hearing on the COVID-19 economic response with Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell. During the hearing, Sen. Warner stressed the need for another COVID-19 relief package that properly supports Main Street and stimulates local economies by making significant investments targeted towards affected communities.

Sen. Warner specifically highlighted his Jobs and Neighborhood Investment Act, legislation he authored to provide eligible community development financial institutions (CDFIs) and minority depository institutions (MDIs) with capital, liquidity, and operational capacity to serve minority and historically disadvantaged communities.

In his remarks at the beginning of the questioning period, Sen. Warner addressed his Jobs and Neighborhood Investment Act saying, “This would take billions of unallocated funds from the CARES Act and directly invest them into MDIs and CDFIs, which, as the secretary explained, would dramatically leverage those dollars and help minority businesses that – as Sen. Scott so accurately pointed out – really have been disproportionately hurt. 420,000 black-owned businesses have shut down and we can and must do better. Chairman Powell, I know we’ve gone back and forth on this but I would argue – I know you said earlier in the week in your testimony that you were concerned with Main Street going smaller, below 250, and the Fed’s capacity to deal with hundreds of thousands, if not millions, of loans. I would argue the way to deal with that, or at least one tool to deal with that, would be the direct equity infusion into those MDIs and CDFIs whose goal and purpose is to lend to these smaller institutions. You wouldn’t have to necessarily grapple with all the individual loans but you could make these kind of investments and Fed support programs for these institutions that service that community.”

Stressing the need for robust and targeted Main Street relief, Sen. Warner criticized Majority Leader Mitch McConnell’s effort to put forward a plan that fell dramatically short of matching the scale of the COVID-19 economic crisis. In his line of questioning, Sen. Warner asked Chairman Powell to address the desperate need for targeted but robust relief for those most affected.

In response to Sen. Warner’s question, Chairman Powell said, “I would say that the recovery we’ve had so far owes in significant degree to the CARES Act and the support that Congress provided in conjunction with the Administration. I think that while the economy has been doing better than expected, there’s downside risk to that if there is no further fiscal support. There are still something like 11 million people who have not gotten their jobs back. Those people are able to spend now because of the checks that they got and the enhanced unemployment insurance that they got. There’s downside risk to the economy probably coming if some form of that support doesn’t continue.”

Sen. Warner also asked the witnesses about the long-term risk to the economy, asking whether the economic risk would be greater in over-stimulating or under-stimulating the economy.

In response, Chairman Powell said, “We’re going have to – we will come back to a place where we need to get the U.S. Federal government on a sustainable fiscal path but I wouldn’t prioritize that now when we’re in the middle of the pandemic.”

Sen. Warner, a former technology entrepreneur, has long worked to provide financial relief to the American economy amid the COVID-19 crisis. A comprehensive list of his COVID-19-related work is available here. 

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WASHINGTON – U.S. Sen. Mark R. Warner (D-Va.), Vice Chairman of the Senate Select Committee on Intelligence, joined Senate Foreign Relations Committee ranking member Bob Menendez (D-N.J.), Senate Democratic Leader Chuck Schumer (D-N.Y.) and Senate Democrats today in introducing the America Labor, Economic competitiveness, Alliances, Democracy and Security (America LEADS) Act, Senate Democrats’ proposal for a new U.S.-China policy. 

The most comprehensive China legislation to date, the America LEADS Act seeks to recognize that only when we have a vibrant economy here at home can we truly compete with China abroad.  The legislation provides significant new investments to rebuild the U.S. economy and provide our workers, entrepreneurs, researchers, and manufacturers with the skills and support needed to out-compete China and succeed in the twenty-first century. The proposal includes over $350 billion in new funding to synchronize and mobilize all aspects of U.S. national power. This approach is grounded in getting the broader Indo-Pacific strategy “right,” centered on our alliances and partnerships, animated by America’s longstanding values, and driven by the need for a course correction, after almost four years of destruction under President Trump.

Sponsored by 11 leading Democrats, the legislation is guided by four pillars: (1) invest in American competitiveness; (2) support American alliances and partners; (3) restore and advance a values-centered foreign policy; and (4) ensure China pays a price for its predatory actions. 

“This bill takes a comprehensive look at the way Beijing has sought to challenge American national security and economic interests in the 21st century by reaffirming the things that make us strong: our values, our alliances, our competitiveness, and our innovation. America LEADS invests in American workers, restores investments in research and development, and shores up our competitiveness in science and technology – all while keeping a commitment to human rights, multilateralism, and the rules-based international order. Importantly, America LEADS addresses China’s predatory international economic behavior, and includes measures to strengthen trade enforcement across a wide range of areas, including intellectual property, supply chains, currency manipulation, and counterfeit goods. This bill ensures China plays by the rules. I am proud to support this bill,” said Vice Chairman Warner.

“China challenges us across every dimension of power—political, diplomatic, military, economic, even cultural—offering an alternative and deeply disturbing model for global governance. Rather than tackling these challenges, President Trump’s policies have rolled out the red carpet for Beijing to reshape international institutions and establish global rules and norms that spread the influence of their authoritarian system,” said Ranking Member Menendez. “Given the shortcomings of Trump’s ‘all bluster and tactics, no strategy’ approach to China, I am proud to be joined by my colleagues in introducing this important legislation to provide an alternative path forward. The America LEADS Act will serve as a launching pad to help our nation emerge from this dark chapter of our history, truly confront the challenges China poses to our national and economic security, and once again lead from a place of strength and reverence for our highest values.”

“Bold, aggressive action is required to confront the clear and present threat China poses to our economic prosperity and national security. America cannot continue to underinvest in our workers, manufacturing communities, science, technological research, and trade enforcement or cede our leadership in the international community and expect to confront this threat,” said Leader Schumer. “The America LEADS Act counteracts the Chinese Communist Party’s predatory trade practices and aggressive military behavior, reinvigorates our alliances, and turns the tables by making essential investments in our workers, entrepreneurs, and manufacturers to ensure 'Made in America', not 'Made in China,' defines our future.”

Joining Warner, Menendez and Schumer in introducing the America LEADS Act were Senate Democratic Whip Dick Durbin (D-Ill.),  Senate Finance Committee ranking member Ron Wyden (D-Ore.), ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs Sherrod Brown (D-Ohio), Senate Committee on Health, Education, Labor and Pensions Ranking Member Patty Murray (D-Wash.), Senate Armed Services Committee ranking member Jack Reed (D-R.I.)Senator Amy Klobuchar (D-Minn.), Senator Chris Van Hollen (D-Md.), and Senator Jeanne Shaheen (D-N.H.).

“Whether pursuing erratic, poorly thought out trade policies that hurt our farmers, cozying up to yet another dictator, ignoring the threat of COVID-19, or denying climate change, the Trump Administration has demonstrated an utter lack of strategic vision when it comes to China,” said Democratic Whip Durbin.  “In four short years, our farmers and manufacturers have lost markets for their goods.  China has rolled back democracy in Hong Kong and run internment camps for Uyghurs.  And China has made diplomatic and economic inroads around the world and on our doorstep.  This bill lays out a coherent approach to China — working together where possible, standing up for human rights and democracy, and looking out for the American worker.” 

“Making sure the playing field with our global trading partners is level and fair couldn't be more important to people in Washington state, and today we’ve laid out a strong path forward to ensure that our nation’s policy towards China reflects the best interests of American workers, families, and businesses--as well as the interests of our allies worldwide and within the Indo-Pacific region. The America LEADS Act would bolster our competitiveness and innovation, support local economies and jobs, strengthen trade enforcement against China, and take needed steps in support of human rights and freedoms. We need clear-eyed, thoughtful, and strong leadership in dealing with China and that’s exactly what these policies demonstrate,” said Ranking Member Murray. 

“Taking on China’s decades of cheating on trade takes more than bluster and empty promises – it requires a strategy to confront every aspect of the Chinese government’s malicious behavior. America LEADS would make sure the U.S. government has the plan and the tools to stand up to China’s economic aggression and ensure a level playing field for American workers, families and communities,” said Ranking Member Wyden. 

“The Trump Administration’s feckless and haphazard response to China has allowed China’s diplomatic, military, economic, and political power to grow in ways that are undermining American national interests and those of our allies,” said Ranking Member Brown. “We need a comprehensive, long-term strategy on China. But there are also steps we must take in the urgent short term- The America LEADS Act is a good first step by allowing us to respond directly to aggressive Chinese behavior with a full range of political, diplomatic, and economic tools.”  

“America needs a better strategy when it comes to China.  President Trump’s chaotic efforts have made that task even more challenging, but with this bill we’re starting the process of highlighting an effective strategy based on smart investments in U.S. workers and companies, building our competitive advantages over China, and increasing alliances to address China rather than thrashing alliances as Trump has,” said Ranking Member Reed. 

“China is our most complex bilateral relationship and our greatest geopolitical challenge. But instead of strategically competing with China, President Trump has stumbled between praising Chinese President Xi’s brutality and imposing haphazard penalties. To protect our interests, we need a comprehensive plan that invests in key American industries, cracks down on the theft of our cutting-edge technologies, and bolsters our security footprint abroad. This proposal does just that. I was proud to author a number of provisions in this sweeping package – including the Protecting American Intellectual Property Act and the Holding Foreign Companies Accountable Act – and I urge my Senate colleagues to take action on this proposal immediately,” said Senator Van Hollen. 

“When it comes to countering China, the U.S. must level the playing field by leading with our like-minded allies abroad and providing our businesses and innovators with the tools they need to compete,” said Senator Shaheen. “The Trump administration’s ‘America Alone’ approach is failing. This legislation recognizes the critical importance of our alliances with other democracies and recommits to our values of freedom and human rights. It also strengthens the United States and empowers the American worker by investing in American ingenuity. This legislation creates American jobs, supports domestic manufacturing, and will help prevent China from stealing our intellectual property. Mitch McConnell should bring this legislation to the floor as soon as possible to send a message to China and the world that the United States is ready to stand up to China’s predatory behavior.” 

The America LEADS Act also includes provisions that strengthen America’s diplomatic, economic, military and soft power posture in the Indo-Pacific and around the globe; promote democracy, human rights, and the rule of law; and safeguard our nation’s innovation and creativity from China’s predatory trade and economic practices.  Most importantly, the America LEADS Act takes significant steps to replenish the sources of our competitiveness at home, with big investments in American workers, education, scientific research and our nation’s industrial base.

A Summary of the America LEADS proposal can be found HERE and below.

  

"This legislation shows that Democrats know how to lead on the thorny issues presented by China's actions in the economic and security spheres," said AFL-CIO President Richard Trumka. "The Trump administration has failed miserably, and it is time for an approach based on cooperation with our allies and investing in our economy to promote job creation."

“Workers need Congress to prioritize the creation of domestic jobs, Sens. Schumer and Menendez took a strong step forward to reshoring, rebuilding, and securing our domestic supply chains with the America LEADS Act,” said United Steelworkers President Tom Conway.

“Global competition, especially from China, for leadership in the advanced-technology industries critical to powering American economic prosperity intensifies daily. The America LEADS Act represents a comprehensive geostrategic response, bolstering all elements of America’s national power, to meet this challenge,” said President of the Information Technology and Innovation Foundation Rob Atkinson. “This vital legislation significantly boosts federal R&D funding; expands science, technology, and innovation programs; bolsters manufacturing-support programs like Manufacturing USA and MEP; restores the defense industrial base; significantly increases federal investment in STEM and workforce training programs; and calls for expanding alliances with like-minded nations in the Indo-Pacific region. America LEADS is the legislation America urgently needs right now if it’s to remain competitive into the future, and it merits full bipartisan support and timely passage.”

The America LEADS Act

·       Invests in American workers and restores United States’ competitiveness in science and technology, manufacturing, global infrastructure, digital technologies, and global clean energy development, by increasing federal funding for research and development, including investment to lead in the development and production of new and emerging technologies like 5G, quantum, and artificial intelligence that will define the twenty-first century, taking action to strengthen domestic supply chains, and providing support for domestic manufacturing industries like seminconductors. 

·       Confronts China’s education and influence campaigns by requiring new reporting requirements and invests in registered apprenticeships, training, and STEM education programs with a focus on building a diverse and inclusive innovation and manufacturing workforce for the 21st Century.

·       Renews and reorients the United States’ diplomatic strategy towards China centered on America’s commitment to its allies around the world and in the Indo-Pacific region, including Japan, South Korea, the Philippines, Australia, Thailand, and Taiwan, and calls for the United States to reassert its leadership within regional and international organizations, like the World Health Organization and the G7.

·       Reaffirms America’s strong security commitment in the Indo-Pacific and a forward-deployed posture in the region to ensure that all nations can exercise their rights in the region’s international waters and airspace, and directs the United States to provide additional assistance and training to countries under the Indo-Pacific Maritime Security Initiative. The bill also provides regional strategies to confront malign PRC influence in the Western Hemisphere, South and Central Asia, Africa, the Arctic region, and the Middle East and North Africa.

·       Invests in our values, authorizing a broad range of efforts to support human rights and civil society measures, especially as they relate to Tibet, the Xinjiang Uyghur Autonomous Region (XUAR), and Hong Kong, including allowing certain Hong Kong citizens and residents of Xinjiang to apply for admission to the United States.  The bill also directs the President to report foreign persons identified for engaging in and facilitating forced labor in China and to apply sanctions to Chinese officials complicit in human rights violations. 

·       Focuses on countering and confronting China’s predatory international economic behavior, and includes measures to strengthen trade enforcement across a wide range of areas, including intellectual property, supply chains, currency manipulation, and counterfeit goods.

 

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WASHINGTON, D.C. – U.S. Senators Mark R. Warner and Tim Kaine released the following statement today before voting against moving forward on Senator McConnell’s latest attempt to pass a “skinny” COVID-19 relief bill:

“We’re not going to vote for a half-baked relief bill, pat ourselves on the back, and call it a day while families are left out in the lurch. The two of us are ready to vote for meaningful relief for small businesses and struggling families but not for something that deprives Americans of much-needed relief while nullifying Virginia protections to keep workers safe from COVID-19. It’s time for the Senate to take up a bill that offers what this one does not: paid sick leave, emergency rental assistance, adequate public school and child care support, funding for states and localities to continue critical services while so many are out of work, and other measures to help our troubled nation.”

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WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA) released the following statement after President Trump signed the Great American Outdoors Act into law. The bipartisan legislation includes Sen. Warner’s Restore Our Parks Act, which would help tackle the $1.1 billion in deferred maintenance at Virginia’s parks and could create up to 10,340 jobs in the Commonwealth alone. The legislation overwhelmingly passed in the House of Representatives earlier this week and was approved by the Senatein June. 

“As the economic toll of the COVID-19 pandemic continues to financially strain communities across the country, this new law will help create tens of thousands of jobs and make a positive economic impact for gateway communities that depend on our national parks,” said Sen. Warner“Now that this bill is the law of the land, Virginia’s historical sites will finally start receiving crucial repairs that have been postponed for years. I want to thank my colleagues for joining me in my years-long effort to create jobs and make sure our nation’s historical treasures are around for years to come.”

Today’s bill signing comes nearly three years after Sen. Warner’s initial effort to provide relief to national parks in Virginia, where the maintenance backlog currently sits at $1.1 billion dollars.

In June, the National Park Service released a report that estimated that an average of 40,300 direct jobs and 100,100 direct and indirect jobs would be supported nationally by the Restore Our Parks Act if passed as part of the Great American Outdoors Act. In Virginia, it is estimated that 10,340 jobs would be created or supported as a result of Sen. Warner’s push to address the national parks backlog.  

In addition, a recent NPS study highlighted the financial impact national parks sites have on Virginia’s economy. Last year, 22.8 million individuals from around the world visited national parks in Virginia, spending $1.2 billion. Additionally, national parks in Virginia helped support 17,300 jobs and contributed over $1.7 billion to the Commonwealth’s economy. Because of the economic impact national parks have on communities across the country, more than 800 organizations have pledged their support for the Great American Outdoors Act.

Sen. Warner’s effort to address the maintenance backlog began in March 2017, when he worked with Sen. Rob Portman (R-OH) to introduce the National Park Legacy Act, which would have eliminated the NPS maintenance backlog by creating a thirty-year designated fund to take care of maintenance needs at visitor centers, rest stops, trails and campgrounds, as well as transportation infrastructure operated by NPS such as the George Washington Memorial Parkway and Arlington Memorial Bridge. That same year, the U.S. Department of the Interior announced its own proposal, drawing heavily on the initial proposal from Sens. Warner and Portman. However, the Administration proposal – which was introduced in the Senate as the National Park Restoration Act by Sens. Lamar Alexander (R-TN) and Angus King (I-ME) – would not have established a dedicated funding stream for NPS maintenance.

In March 2018, after extensive negotiations among Sens. Warner, Portman, Alexander, and King, the bipartisan group introduced the Restore Our Parks Act, a bipartisan consensus proposal endorsed by the Trump Administration, to invest in overdue maintenance needs at NPS sites. The bill would reduce the maintenance backlog by establishing the “National Park Service Legacy Restoration Fund” and allocating existing revenues from onshore and offshore energy development. This funding would come from 50 percent of all revenues that are not otherwise allocated and deposited into the General Treasury, not exceeding $1.3 billion each year for the next five years. In February 2019, Sen. Warner reintroduced the Restore Our Parks Act and, the bill was overwhelmingly approved by the Senate Energy and Natural Resources Committee in November.

In March 2020, following the President’s announcement that he would back the bipartisan Restore Our Parks Act as well as full and permanent funding for LWCF, Sen. Warner, along with Sens. Cory Gardner (R-CO), Joe Manchin (D-WV), Steve Daines (R-MT), Portman, King, Alexander, and Richard Burr (R-NC) introduced the Great American Outdoors Act, which would provide $9.5 billion over five years to the National Park Service, Forest Service, Fish and Wildlife Service, Bureau of Land Management, and Bureau of Indian Education to address the deferred maintenance backlog at these agencies. The legislation would also provide permanent, mandatory funding for the LWCF, which provides states and local communities with technical assistance, recognition, and funding to help preserve and protect public lands. Virginia has received approximately $368.5 million in LWCF funding over the past four decades to help protect dozens of national parks, wildlife refuges, forests, trails and more. 

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WASHINGTON, D.C. – U.S. Senators Mark R. Warner and Tim Kaine cosponsored the Real Economic Support That Acknowledges Unique Restaurant Assistance Needed to Survive (RESTAURANTS) Act of 2020, legislation that would establish a $120 billion revitalization fund to help independent restaurants deal with the long-term structural challenges facing the industry because of COVID-19 and support the reemployment of 11 million workers.

“Virginia’s independent restaurants have been especially hurt by the coronavirus emergency and require much-needed relief,” the Senators said. “This bill can help save restaurants across the Commonwealth by offering the critical assistance needed to cover costs of operations and supporting staff. We’re glad this effort has bipartisan support to help millions of restaurants from closing their doors for good.”

The Bureau of Labor Statistics estimates that the restaurant industry has lost over 6.1 million jobs – the most of any industry and double the figure from the next most affected industry. Without further action from Congress, over 11 million independent restaurant workers are at risk of permanently losing their jobs. Restaurants are facing months of massive revenue losses because of social distancing, rising costs of supplies, new expenses for personal protective equipment, and a decrease in the public’s willingness to dine out.

The National Restaurant Association estimates that more than 237,000 restaurant employees in Virginia have been laid off or furloughed since March – representing at least 78 percent of the 305,000 employees that were working at Virginia’s eating and drinking places in February.

The Senate bill was led by Senators Roger Wicker (R-MS) and Kyrsten Sinema (D-AZ) and was cosponsored by Senators Lindsey Graham (R-SC), Chris Coons (D-DE), Doug Jones (D-AL), Cory Gardner (R-CO), Thom Tillis (R-NC), Bob Casey (D-PA), Jeff Merkley (D-OR), and Catherine Cortez-Masto (D-NV).

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WASHINGTON – U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) issued the following statement today in response to the release of the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act – the proposal put forward by the White House and Senate Republican leaders as a starting point for bipartisan, bicameral negotiations on another COVID-19 relief package:

“The Democratic House passed the HEROES Act ten weeks ago. Since then, the health and economic crisis has continued unabated. Millions of Americans are facing eviction or foreclosure; state and local governments are drowning in red ink; and 30 million Americans relying on unemployment to survive are facing the expiration of expanded benefits this week. Instead of taking urgently needed steps to address these problems, the White House and Senate Republican leaders have put forward a bill that fails to match the scale of the crisis or the needs of the American people. Instead, their proposal focuses on liability protections for businesses, as though that is our country’s most urgent challenge right now, and bizarrely includes money for a new FBI building in Washington, D.C. that has no connection to the current crisis and which the FBI neither wants or needs, having already spent millions planning for a new headquarters building in Virginia or Maryland.

“In our conversations with the Administration and our colleagues from both parties, we will be strongly advocating for a bill that funds critical priorities like healthcare and testing, rental and mortgage assistance, broadband access, child care, K-12 and higher education, job training, election security, hunger assistance, and help for communities of color that have been disproportionately hard-hit by the effects of COVID-19. The American people simply cannot afford for the Senate to waste any more time in addressing these urgent crises, and we are eager to work with anyone, Republican or Democrat, who is ready to do something about these serious challenges.” 

The U.S. House of Representatives passed the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act on May 15 by a vote of 208 - 199.

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WASHINGTON – Today, U.S. Sens. Mark R. Warner (D-VA) and Steve Daines (R-MT), members of the Senate Finance Committee, introduced bipartisan legislation to establish a $500 million emergency portable benefits fund for states. Under this legislation, the U.S. Department of Labor would administer funds to states to assist them with setting up a portable benefits program for independent workers. The federal funds would also pay for a portion of the costs associated with modernizing states’ Unemployment Insurance (UI) technology systems – a move that would facilitate expanded benefits eligibility and support long-term innovation. Sens. Warner and Daines are seeking to include the proposed legislation in the next COVID-19 relief package.

“Right now, millions of independent, freelance, domestic, and entrepreneurial workers have no social safety net to fall back on. I’ve been sounding the alarm on this for years, and as this pandemic has shown, this is a problem that can wreak havoc on both individual families and on our economy as a whole,” said Sen. Warner. “As we continue to face this health and economic crisis, Congress must act to give states the tools they need to address this problem for the long term. We shouldn’t need an Act of Congress to get workers access to a safety net every time there’s a crisis or economic downturn. We will be right where we were before this crisis if we don’t find some innovative solutions. That’s why we’re introducing this legislation to provide funding for states to experiment with new models for assisting workers and learn what works through a national impact evaluation.”

“Allowing states to experiment with portable benefit models and providing funding to modernize Unemployment Insurance technology systems are just plain commonsense ideas,” said Sen. Daines. “This bill will help encourage bottom-up solutions to the problems we are seeing play out in real-time during this pandemic, and help make sure the country is better prepared to deal with these issues when the next crisis hits.”

The CARES Act granted these non-traditional workers access to state-administered unemployment insurance (UI) programs for the first time. However, reports indicate that millions of these workers have struggled to access these benefits in part due to clunky and outdated state IT systems that administer the benefits and implementation issues. What’s more, the programs created by Congress are temporary and do not address access to portable benefits in the long term. 

Moving forward, this legislation would provide supplemental funds for states to update their unemployment systems for the 21st century, for the purposes of long-term innovation. The emergency benefits proposal would also provide funding for states – in partnership with cities, localities and worker advocate non-profits – to experiment with innovative proposals for portable benefits, such as paid leave, retirement plans, the longer-term expansion of UI eligibility, and other programs specific to local economies.

This bill will also help shed light on which experimental portable benefit models work best. Under this legislation, states are required to submit data on the effectiveness of their approach and its returns for workers, broken down by socioeconomic and racial figures. The Government Accountability Office will then evaluate this data and use it to create a report on the impact of the program.

For more than three years, Sen. Warner has led the bipartisan Portable Benefits for Independent Workers Pilot Program Act to establish a grant fund for states, localities and nonprofit organizations to experiment with portable benefits models for the growing independent workforce. Today’s bill – which comes after an initial bill proposal – builds on that effort in light of the COVID-19 health and economic crisis, which has left many self-employed entrepreneurs and independent workers with no or reduced incomes and little access to long-term traditional benefits programs. 

This legislation has the support of a number of experts and groups including David Rolf the former President of SEIU 775, the National Domestic Workers Alliance, the Aspen Institute’s Future of Work Initiative, Marcela Escobari of the Brookings Institution, R Street Institute, the Center for American Entrepreneurship, and SAG-AFTRA.

“The Center for American Entrepreneurship applauds the introduction of the Emergency Portable Benefits for Independent Workers Act.  The fact that critical benefits such as paid leave, worker retraining, child care, and retirement security are typically provided by corporate employers has emerged as a significant public policy challenge, as 1 in 10 Americans in the labor force are consistently in alternative work arrangements.  In addition, the prospect of losing such employer-provided benefits is a major structural obstacle to entrepreneurship at a time when rates of new business formation have been in decline for years.  By providing a framework for entrepreneurs to access benefits independent from employers, the Act will accelerate policy innovation within states with regard to the provision of critical benefits and enhance worker mobility.  CAE thanks Senators Mark Warner (D-VA) and Steve Daines (R-MT) for their leadership, and looks forward to working with them toward swift passage of the Act,” said John Dearie, President, Center for American Entrepreneurship.

“We applaud Senator Warner’s long commitment to ensure independent workers have basic protections for themselves and their families when striving to make a living in the emerging gig economy.  Establishing a basic set of benefit protections that working Americans can carry with them, when working and when between jobs, is critical to the safety and well-being of a growing workforce.  This truth has become ever more essential in the era of a global pandemic, when so many Americans have lost jobs but still need to provide the protection of basic health care and other support for their children and families. Many of our SAG-AFTRA members take on all manner of jobs as they work to build a career in entertainment, and we want to see them supported throughout their journey,” said David White, National Executive Director, SAG-AFTRA.

“For years, a mix of too much regulation and too little creativity has led to near-stasis in the ways American firms and governments have allowed those working under alternative arrangements to access benefits. This bill promises to break through the morass and encourage real creativity. Anyone who wants to use this moment of crisis to innovate should strongly consider supporting it,” said Eli Lehrer, President, the R Street Institute.

A summary of the bill is available here. Text of the bill can be found here.

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WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA) applauded the House passage of the Great American Outdoors Act, a bill he championed that would address the $12 billion maintenance backlog at National Park Service (NPS) sites across the country and permanently fund the Land and Water Conservation Fund (LWCF). With the economic devastation caused by the COVID-19 pandemic, this bipartisan bill will help create more than 100,000 jobs across the country and stimulate local economies that rely on outdoor tourism industry. In June, the Senate overwhelmingly passed the bipartisan legislation and with today’s passage in the House of Representatives, the bill will now head to President Trump’s desk for his signature.

“In passing the Great American Outdoors Act, the House has reaffirmed Congress’ bipartisan commitment to preserving America’s irreplaceable natural and historic resources for future generations. The House vote clears the final hurdle to getting this bill to the President’s desk, closing a years-long effort to address the mounting deferred maintenance costs that have accumulated at national parks across the Commonwealth and the country,” said Sen. Warner. “After the economic devastation we’ve seen come out of the COVID-19 pandemic, this is another tool in the toolbox to help stimulate our nation’s struggling economy and create up to 110,000 additional infrastructure-related jobs. I am grateful for all those who contributed to this process. I look forward to the President quickly signing this momentous legislation into law, which could create 10,000 new jobs in the Commonwealth, help preserve vital tourism for communities, and ensure that future generations of Americans will continue to experience and take advantage of America’s historical and natural treasures.”

Congressional passage of the bill comes nearly three years after Sen. Warner’s initial effort to provide relief to national parks in Virginia, where the maintenance backlog currently sits at $1.1 billion dollars.

In June, the National Park Service released a report that estimated that an average of 40,300 direct jobs and 100,100 direct and indirect jobs would be supported nationally by the Restore Our Parks Act if passed as part of the Great American Outdoors Act. In Virginia, it is estimated that 10,340 jobs would be created or supported as a result of Sen. Warner’s push to address the national parks backlog. 

In addition, a recent NPS study highlighted the financial impact national parks sites have on Virginia’s economy. Last year, 22.8 million individuals from around the world visited national parks in Virginia, spending $1.2 billion. Additionally, national parks in Virginia helped support 17,300 jobs and contributed over $1.7 billion to the Commonwealth’s economy. Because of the economic impact national parks have on communities across the country, more than 800 organizations have pledged their support for the Great American Outdoors Act.

Sen. Warner’s effort to address the maintenance backlog began in March 2017, when he worked with Sen. Rob Portman (R-OH) to introduce the National Park Legacy Act, which would have eliminated the NPS maintenance backlog by creating a thirty-year designated fund to take care of maintenance needs at visitor centers, rest stops, trails and campgrounds, as well as transportation infrastructure operated by NPS such as the George Washington Memorial Parkway and Arlington Memorial Bridge. That same year, the U.S. Department of the Interior announced its own proposal, drawing heavily on the initial proposal from Sens. Warner and Portman. However, the Administration proposal – which was introduced in the Senate as the National Park Restoration Act by Sens. Lamar Alexander (R-TN) and Angus King (I-ME) – would not have established a dedicated funding stream for NPS maintenance.

In March 2018, after extensive negotiations among Sens. Warner, Portman, Alexander, and King, the bipartisan group introduced the Restore Our Parks Act, a bipartisan consensus proposal endorsed by the Trump Administration, to invest in overdue maintenance needs at NPS sites. The bill would reduce the maintenance backlog by establishing the “National Park Service Legacy Restoration Fund” and allocating existing revenues from onshore and offshore energy development. This funding would come from 50 percent of all revenues that are not otherwise allocated and deposited into the General Treasury, not exceeding $1.3 billion each year for the next five years. In February 2019, Sen. Warner reintroduced the Restore Our Parks Act and, the bill was overwhelmingly approved by the Senate Energy and Natural Resources Committee in November.

In March 2020, following the President’s announcement that he would back the bipartisan Restore Our Parks Act as well as full and permanent funding for LWCF, Sen. Warner, along with Sens. Cory Gardner (R-CO), Joe Manchin (D-WV), Steve Daines (R-MT), Portman, King, Alexander, and Richard Burr (R-NC) introduced the Great American Outdoors Act, which would provide $9.5 billion over five years to the National Park Service, Forest Service, Fish and Wildlife Service, Bureau of Land Management, and Bureau of Indian Education to address the deferred maintenance backlog at these agencies. The legislation would also provide permanent, mandatory funding for the LWCF, which provides states and local communities with technical assistance, recognition, and funding to help preserve and protect public lands. Virginia has received approximately $368.5 million in LWCF funding over the past four decades to help protect dozens of national parks, wildlife refuges, forests, trails and more.

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WASHINGTON – Today U.S. Sens. Mark R. Warner (D-VA), Cory Booker (D-NJ), Kamala Harris (D-CA) and Democratic Leader Chuck Schumer (D-NY) are introducing the Jobs and Neighborhood Investment Act, legislation to make a new, $17.9 billion investment in low-income and minority communities that have been especially hard-hit by the COVID-19 crisis. Rep. Gregory Meeks (D-NY) will introduce companion legislation in the House.

The legislation would provide eligible community development financial institutions (CDFIs) and Minority Depository Institutions (MDIs) with capital, liquidity, and operational capacity, to expand the flow of credit into underserved, minority, and historically disadvantaged communities, helping small businesses stay afloat and expand operations, while providing affordable access to credit for lower income borrowers. The Senators are seeking to include the Jobs and Neighborhood Investment Act in any upcoming COVID-19 relief legislation to help hard-hit communities weather and recover from the economic blow of the pandemic.

“We know that Black and Latino Americans are disproportionately suffering from the dual health and economic effects of COVID-19, putting many low-income and minority neighborhoods at risk of sustained economic damage that will last far beyond the current crisis. Steps like PPP loans, expanded UI, and one-time stimulus payments helped to soften the blow in some places, but not enough. Jobs that supported these neighborhoods are disappearing overnight, and if we don’t act now, we could see a hemorrhaging of already-limited economic opportunities from these communities that will take generations to recover,” said Sen. Warner. “The Jobs and Neighborhood Investment Act directs billions in new investments to help low- income and minority communities withstand this unprecedented economic downturn and emerge stronger with increased access to capital and new economic opportunities.”

“Even before the pandemic, communities of color and low-income communities were facing deep- seated challenges and structural inequities in accessing capital and economic opportunity,” said Sen. Booker. “Now, as the Coronavirus crisis exposes and exacerbates these inequities, it’s past time we act boldly, by investing in the families, businesses, and communities that have been most impacted and providing them with the resources they need to recover and rebuild.”

“We are in the midst of multiple crises in our country: a public health crisis, which is disproportionately impacting people of color in America; and the resulting economic crisis that is causing financial hardship for our small and minority-owned institutions. As we work to secure additional funding for the survival of businesses across the country, I am proud to work with my colleagues on this next step in not only lifting up the hardest hit communities, but ensuring they thrive in the coming months,” said Sen. Harris.

“Since long before they were hit with the recession created by the COVID-19 pandemic, Black families and business owners have struggled to gain access to capital and banking services necessary to build and maintain strong communities and opportunities for growth. The Jobs and Neighborhood Investment Act would mean billions in resources for the institutions that serve the underfunded and underbanked and provide minority and low income neighborhoods with the resources they need to help them not just weather the storm but thrive over the long-term,” said Sen. Schumer. “If our Republicans colleagues are serious about addressing inequity and getting aid to those who need it most, they should stop focusing on providing immunity to big corporations and make sure our truly small and minority owned businesses, and the institutions that truly seek to serve them, have access to the resources and funding they need to survive and thrive.”

“As Chairman of the House Financial Service Subcommittee on Consumer Protection and Financial Institutions, my focus has been squarely on address the inequities faced by unbanked and underbanked communities, and communities of color that continue to be discriminated against to this day, including in banking and financial services. The COVID19 pandemic has laid bare the vulnerability of these communities, and the urgency of addressing the failures of the financial system that leave these communities behind. Achieving a balanced and sustainable economic recovery requires inclusion of, and investments in minority banks, community development financial institutions, and those banks and lenders that reach marginalized communities,” said Rep. Meeks.

A summary of the bill is available here. Text of the bill is available here.

“The compounding effects of COVID-19 will put many low-income and minority neighborhoods at risk of sustained economic damage,” said David Clunie, Executive Director, Black Economic Alliance. “The Jobs and Neighborhood Investment Act seeks to mitigate economic damage and break down some of the economic barriers Black communities face by strengthening the financial institutions that serve communities of color so they can boost operational capacity and increase lending to Black businesses and lower-income borrowers. By improving access to capital and providing new economic opportunities, this legislation will help Black Americans emerge stronger from the economic downturn that is harming Black communities disproportionately. BEA is proud to have helped shape this billWe are grateful to Senators Schumer, Warner, Harris, and Booker and Rep. Meeks for their leadership, and we look forward to swift passage of this proposal.”

“In this critical moment, our communities are in dire need of being supported and uplifted,” said Derrick Johnson, President and CEO, NAACP. “The disproportionate impact and strain COVID-19 has placed on low-income neighborhoods has been devastating, and the relief Jobs and Neighborhood Act will provide is sorely needed. I am encouraged by the organizations, elected officials and community leaders that continue to step up and fill in the gap amid this turbulent time; and the NAACP will continue to lead in this fight.”  

 “Underserved communities require specific actions to inject resources that impact families and businesses. The Jobs and Neighborhood Investment Act as Senator Warner proposes must be pointed to these communities as the data proves that there is a disproportionate impact from COVID-19. Therefore, we must itemize the need to repair, restore, and regenerate economic vitality in these communities,” said Kenneth Kelly, Chairman, National Bankers Association.

“The pandemic has illuminated the barriers faced by Black borrowers, business owners and their employees like nothing else in recent memory,” said Marc H. Morial, President and CEO, National Urban League. “The Jobs and Neighborhood Investment Act is a step toward not only reclaiming the economic ground that has been lost over the last few months, but revitalizing the Black communities that still lag behind because of systemic racism and lack of opportunity. The National Urban League recommends passage of this legislation.”

“This bill provides critical support for  CDFIs and MDIs and is a good step toward expanding the flow of credit into underserved and historically disadvantaged communities. This is especially important for communities of color, which have been hit hardest by the current crisis. This legislation will enable business owners of color to survive and expand operations,” said Ashley Harrington, Director of Federal Advocacy and Senior Counsel at the Center for Responsible Lending. “This is a commonsense approach to help local economies, and we look forward to continuing our partnership with Senators Warner, Harris, and Booker and Congressman Meeks in further strengthening this legislation and in getting it passed into law.”

“The African American Alliance of CDFI CEOs supports the Jobs and Neighborhood Investment Act. We believe it is a positive step to ensuring that small businesses most impacted by the pandemic will receive funding- through CDFIs and minority lenders- to assist with restoring and rebuilding communities,” said Donna Gambrell, Chair, and Calvin Holmes, Vice-Chair, The African American Alliance of CDFI CEOs.

“The Jobs and Neighborhood Investment Act has the potential to dramatically increase the flow of responsible investment capital into communities of color. This could be a game changer for community development institutions that are helping underserved communities emerge from the current economic crisis,” said Noel Andrés Poyo, Executive Director, National Association for Latino Community Asset Builders.

“This legislation proposed by Sen. Mark Warner (VA) works to provide the needed capital investments in Black communities that will help families in crises due to the devastating economic impact of the COVID-19 pandemic. These resources will strengthen businesses, increase employment and provide access to affordable credit for many hardworking residents in our country’s most underserved communities,” said Dr. W. Franklyn Richardson, Chairman, Conference of National Black Churches (CNBC).

“Prosperity Now has been honored to work with Senators Warner, Booker, Harris and Congressman Meeks on their Jobs and Neighborhood Investment Act, a comprehensive plan to capitalize and strengthen Minority-Owned Banks and CDFIs, which are fundamental to our communities and their recovery from COVID-19. A key value of this legislation is that it would also prepare us for and respond to the next economic crisis. We fully endorse this bill,” said Doug Ryan, Senior Fellow, Prosperity Now.

“The Local Initiatives Support Corporation (LISC) applauds Senator Warner and the other co-sponsors for recognizing the critical role that CDFIs and Minority Depository Institutions play in providing capital to underserved borrowers and communities, and for providing them with the resources needed to meet the scale of the challenge that is facing the country as we recover from both the health and economic impacts of COVID-19. There is little doubt that the communities served by CDFIs and MDIs are disproportionately impacted by COVID-19, and this legislation provides a thoughtful means of ensuring that scarce federal resources get to the businesses and residents of those communities,” said Maurice Jones, President and CEO, Local Initiatives Support Corporation (LISC).

“The Jobs and Neighborhood Investment Act’s support of minority-owned and minority-led lenders is a great step forward for promoting access to capital for underserved communities and the country at large. We look forward to bipartisan passage and working with all stakeholders to ensure its intent is realized,” said Aron Betru, Managing Director, Milken Institute Center for Financial Markets.

“The current global pandemic has made plain that our financial system is stronger and more dynamic when community development financial institutions grow and thrive.  We applaud the work of Senators Warner, Booker, Harris and Congressman Meeks in advancing the Jobs and Neighborhood Investment Act to strengthen the efforts of community-based lenders by providing them with additional tools to continue reaching those most deeply affected by this crisis,” said Cathie Mahon, President and CEO, Inclusiv.

“Black and Brown communities have been disproportionately impacted by the health and economic effects of the pandemic. More than 40% of black businesses already have shut down. We need urgent investments to change this trajectory, empower a banking system that reaches deep into our minority communities, and help us reach the urgent goal of economic justice. This legislation provides vital support to community and minority-owned banks. Eliminating the racial wealth gap would add more than $1 trillion to our country’s GDP, benefitting all communities. This isn’t a political issue, and I’m hopeful leaders across both parties will come together to drive real change forward, without delay,” said Robert F. Smith, Founder, Chairman and CEO, Vista Equity Partners.

“The Jobs and Neighborhood Investment Act recognizes the critical role CDFIs play in serving communities struggling against persistent racial and economic inequality.  In particular, the Opportunity Finance Network applauds the inclusion of $1 billion in immediate CDFI Fund grants to strengthen CDFIs to do more in the challenging months ahead,” said Jennifer A. Vasiloff, Chief External Affairs Officer Opportunity Finance Network.

“The Jobs and Neighborhood Investment Act will inject vital resources into families, businesses and communities that have been hardest hit by COVID and the economic crisis. By prioritizing investments that increase and leverage the capacity of minority lenders and CDFIs, the Act will significantly advance economic opportunity among America’s most underserved people and places,” said Bill Bynum, CEO, Hope Credit Union.

“Over the past four months, we have watched in awe as CDFIs and MDIs across the country have mobilized any and all available resources at their disposal to mitigate the devastating effects of COVID- 19. We have seen their willingness and ability to ensure that the communities they serve weather this crisis, restart and recover quickly, and build back stronger and with more resilience. The Jobs and Neighborhood Investment Act would provide the necessary capital and operating support so that these community-based lenders can significantly grow their efforts to meet the incredible need across urban, rural, and Native communities,” said Jennifer Pryce, President & CEO, and Frederick “Bart” Harvey, Chairman of the Board, Calvert Impact Capital.

“This initiative is exactly what is needed to help low-income and communities of color rebuild. CDFIs have long been committed to racial and economic justice. This set of programs will provide the tools for CDFIs to help small businesses survive and thrive and communities to recover,” said Jeannine Jacokes, Chief Executive Officer, Community Development Bankers Association.

“The Jobs and Neighborhood Investment Act will put resources and financial mechanisms into the communities where they can do the most good. Senators Warner, Booker and Harris, and Congressman Meeks, have introduced a measure that, if enacted, will catalyze growth and opportunity for underrepresented groups by unleashing the potential of small businesses in minority communities too often left behind by broader economic growth,” said David Grain, Founder and CEO, Grain Management.

“The Jobs and Neighborhood Investment Act will help get needed funds into communities hardest hit by the crisis, by supporting community development financial institutions and minority depository institutions – those with the on-the-ground expertise and track record to get the job done,” said Professor Michael S. Barr, Joan and Sanford Weill Dean of Public Policy, Frank Murphy Collegiate Professor of Public Policy, Roy F. and Jean Humphrey Proffitt Professor of Law, University of Michigan.

###

WASHINGTON – Today, the U.S. Senate passed the Great American Outdoors Act, a bill championed by U.S. Sen. Mark R. Warner (D-VA) that would address the $12 billion maintenance backlog at National Park Service (NPS) sites across the country and permanently fund the Land and Water Conservation Fund (LWCF). The bipartisan legislation includes Sen. Warner’s Restore Our Parks Act, which would help tackle the $1.1 billion in deferred maintenance at Virginia’s national parks and create up to 10,340 jobs in the Commonwealth alone. The bill now heads to the House of Representatives for approval. 

“Over the past few years, I’ve been sounding the alarm on the mounting costs associated with repairing and maintaining our national park sites across the Commonwealth. Frankly, the National Park Service hasn’t had the federal resources it needs to preserve our natural treasures in Virginia and across the country. Failing to act now would have put these historical treasures at risk, and would have taken a devastating toll on small towns and communities whose economies depend on Virginia’s outdoor tourism industry,” said Sen. Warner. “Last year, Virginia’s national parks helped to support and create 17,300 jobs – an increase of 1,300 from 2018. And once this bill is signed into law, more than 10,000 jobs could be created in Virginia just by the work needed to restore and maintain Park Service sites. I’m proud that the Senate finally passed this commonsense bipartisan solution, and now it’s up to the House to ensure we protect and preserve these irreplaceable resources for years to come.”

Today’s Senate passage comes more than three years after Sen. Warner first led the effort to provide relief to national parks in Virginia, where the increasing maintenance backlog surpasses that of every state except for California and the District of Columbia. 

Earlier this month, the National Park Service released a report that estimated that an average of 40,300 direct jobs and 100,100 direct and indirect jobs would be supported nationally by the Restore Our Parks Act if passed as part of the Great American Outdoors Act. In Virginia, it is estimated that 10,340 jobs would be created or supported as a result of Sen. Warner’s push to address the national parks backlog. 

Last week, a new NPS study highlighted the financial impact national parks sites have on Virginia’s economy. Last year, 22.8 million individuals from around the world visited national parks in Virginia, spending $1.2 billion. Additionally, national parks in Virginia helped support 17,300 jobs and contributed over $1.7 billion to the Commonwealth’s economy. Because of the economic impact national parks have on communities across the country, more than 800 organizations have pledged their support for getting the Great American Outdoors Act swiftly passed and signed into law.

Sen. Warner’s effort to address the maintenance backlog began in March 2017, when he worked with Sen. Rob Portman (R-OH) to introduce the National Park Legacy Actwhich would have eliminated the NPS maintenance backlog by creating a thirty-year designated fund to take care of maintenance needs at visitor centers, rest stops, trails and campgrounds, as well as transportation infrastructure operated by NPS such as the George Washington Memorial Parkway and Arlington Memorial Bridge. That same year, the U.S.Department of the Interior announced its own proposaldrawing heavily on the initial proposal from Sens. Warner and Portman. However, the Administration proposal – which was introduced in the Senate as the National Park Restoration Act by Sens. Lamar Alexander (R-TN) and Angus King (I-ME) – would not have established a dedicated funding stream for NPS maintenance.

In March 2018, after extensive negotiations among Sens. Warner, Portman, Alexander, and King, the bipartisan group introduced the Restore Our Parks Act, a bipartisan consensus proposal endorsed by the Trump Administration, to invest in overdue maintenance needs at NPS sites. The bill would reduce the maintenance backlog by establishing the “National Park Service Legacy Restoration Fund” and allocating existing revenues from onshore and offshore energy development. This funding would come from 50 percent of all revenues that are not otherwise allocated and deposited into the General Treasury, not exceeding $1.3 billion each year for the next five years. In February 2019, Sen. Warner reintroduced the Restore Our Parks Act and, the bill was overwhelmingly approved by the Senate Energy and Natural Resources Committee in November. 

In March 2020, following the President’s announcement that he would back the bipartisan Restore Our Parks Act as well as full and permanent funding for LWCF, Sen. Warner, along with Sens. Cory Gardner (R-CO), Joe Manchin (D-WV), Steve Daines (R-MT), Portman, King, Alexander, and Richard Burr (R-NC) introduced the Great American Outdoors Actwhich would provide $9.5 billion over five years to the National Park Service, Forest Service, Fish and Wildlife Service, Bureau of Land Management, and Bureau of Indian Education to address the deferred maintenance backlog at these agencies. The legislation would also provide permanent, mandatory funding for the LWCF, which provides states and local communities with technical assistance, recognition, and funding to help preserve and protect public lands. Virginia has received approximately $368.5 million in LWCF funding over the past four decades to help protect dozens of national parks, wildlife refuges, forests, trails and more.

“Senate passage of the Great American Outdoors Act (GAOA) is a remarkable achievement in advancing historic bipartisan legislation for our national parks. The National Park Foundation is grateful for Senator Warner’s steadfast commitment to Virginia’s national parks and a bright future for all of our special places with his leadership on this bill. GAOA will ensure that national parks receive the funding required to address deferred maintenance needs, that parks remain accessible to all Americans, and continue to serve as economic engines for local communities in Virginia and across the country,” said Will Shafroth, President and CEO of the National Park Foundation.

“Senator Warner helped make history when the Senate passed the bipartisan Great American Outdoors Act today, an effort that culminates his years of work to restore our national parks. If the House of Representatives follows through, this will be one of the most significant pieces of conservation and recreation legislation enacted in more than 50 years,” said Marcia Argust, Project Director of the restore America’s parks campaign at The Pew Charitable Trusts. “Investment in our parks and public lands will have a high rate of return for park resources, visitors, and local economies, especially in Virginia, where park tourism supports over 17,000 jobs annually.” 

“Today, because of the leadership of Congressional park champions like Senator Warner, the momentum to fix our national parks and public lands is stronger than ever before,” said Theresa Pierno, President and CEO of the National Parks Conservation Association. “On top of cuts to funding and staffing, our parks also face billions of dollars in needed repairs, from aging water systems at Grand Canyon to crumbling trails at Shenandoah. Senator Warner has spoken up in support of these treasured places and all they protect for years, and because of his inspiring work on this legislation, we are one step closer to preserving America’s legacy and providing much needed relief to local economies across the country.” 

“Senate passage of the Great American Outdoors Act with overwhelming bipartisan support brings us one step closer to an historic achievement on behalf of historic and cultural resources and our public lands. This legislation is a bipartisan solution that would provide $9.5 billion in dedicated funding over five years for much needed repairs of the National Park Service and other federal agencies. Along with fully funding the Land and Water Conservation Fund, this bill would ensure preservation of some of our nation’s most iconic historic places. We thank Senator Warner, along with Senators Portman, Alexander, King, Manchin, Gardner, Daines, Cantwell and others for their leadership on this once-in-a-generation legislative accomplishment for our public lands,” said Tom Cassidy, Vice President for Government Relations and Policy at the National Trust for Historic Preservation. 

“The passage of the Great American Outdoors Act is an outstanding accomplishment for the Commonwealth of Virginia, providing critical funding for desperately needed repairs and maintenance at our treasured national park sites,” said Rita McClenny, President and CEO of Virginia Tourism Corporation. “Virginia is home to national icons including Shenandoah National Park and the Blue Ridge Parkway, and offers some of the most beautiful places in the world for travelers to get outside, slow down, and connect with nature and each other. The funding from the Great American Outdoors Act will greatly benefit our natural wonders, from the shores of Coastal Virginia to the mountainous cliffs of Southwest Virginia. We owe a deep gratitude to Senator Warner for his leadership and for pushing forward such significant legislation, providing vital resources to preserve the beauty and abundance of our natural resources in the Commonwealth of Virginia.”

“The Blue Ridge Parkway is more than just a scenic road and a connector to the region’s landscape. It is an economic driver for adjacent communities creating a $1.4 billion impact in economic benefits,” said Landon Howard, President of Visit Virginia’s Blue Ridge. “Thanks to Senator Warner’s leadership to restore our national parks, Roanoke, one of the largest communities along the Blue Ridge Parkway, will benefit greatly from the restoration contributing to jobs and the economy in Virginia’s Blue Ridge.”

A full list of deferred maintenance needs at Virginia’s national parks can be found here

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WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) joined Sen. Mike Rounds (R-SD) in a bipartisan letter to Treasury Secretary Steve Mnuchin and Small Business Administration (SBA) Administrator Jovita Carranza urging the administration to ease paperwork requirements for small businesses seeking loan forgiveness under the Paycheck Protection Program (PPP). The letter, signed by 44 senators, specifically requests that the loan forgiveness application for loans under $250,000 to be no longer than one page in length.

The letter can be found HERE or below: 

 

Dear Secretary Mnuchin and Administrator Carranza:

The Paycheck Protection Program (PPP) has been critical for helping small businesses remain viable and keeping Americans employed during the COVID-19 pandemic. However, we would like to make you aware of a serious problem with the PPP Loan Forgiveness Application. We have received feedback from a number of businesses and lenders that the forgiveness application is difficult to understand and to complete. We ask that the Department of the Treasury (Treasury) and the Small Business Administration (SBA) urgently revise the application so that it is no longer than one page for any loan under $250,000.

When Congress created the PPP, its purpose was clear: get immediate funding into the hands of small business owners impacted by the COVID-19 pandemic so their employees could stay on the payroll and maintain benefits and so that businesses could resume normal operations as soon as it was safe to do so. Given the innumerable challenges that small business owners face, PPP loans were designed to be forgiven to prevent small business owners from incurring additional debt, provided employees were kept on payroll.

The text of the CARES Act, which was approved unanimously by the Senate, specified three criteria that the PPP forgiveness application was required to include:

1.     Documentation verifying the number of full-time employees on payroll and their respective pay rates;

2.     Documentation verifying payment of mortgage, lease, and utility payments for which the business owner sought PPP funds; and

3.     A certification that the information presented in the forgiveness application is true and correct.

While the Small Business Administrator was also given the ability to require additional documentation necessary to verify proper use of PPP funds, we believe it is beyond the program’s intent to require the information solicited in the 11-page forgiveness application that the SBA recently released. We appreciate the interest in appropriately auditing the use of government money. However, the loan forgiveness application – which understandably needs more information for loans worth significantly more than $250,000 – is three times longer than the original application for the PPP. Many of our constituents and the financial institutions who processed their PPP loan applications have reported that the existing forgiveness application will be difficult to complete and could cost business owners several thousand dollars in professional tax advice.

The Administration’s intentions to scrutinize PPP loans above $2 million is an appropriate oversight of taxpayer resources. Failing to streamline the loan forgiveness application for loans that are worth a mere fraction of that will not only leave millions of small business owners without the relief that they were promised by Congress, but it will also introduce a needless complication to our nation’s economic recovery.

We look forward to continuing to work with you and the Administration in supporting our country’s small businesses and their employees during this difficult time. Thank you for your prompt attention to this matter.

Sincerely, 

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WASHINGTON – U.S. Sen. Mark R. Warner (D-VA), Vice Chairman of the Senate Select Committee on Intelligence, and Sen. John Cornyn (R-TX)  today introduced the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, which would restore semiconductor manufacturing back to American soil by increasing federal incentives to stimulate advanced chip manufacturing, enable cutting-edge research and development, secure the supply chain and bring greater transparency to the microelectronics ecosystem, create American jobs, and ensure long-term national security. U.S. Representative Doris Matsui (CA-6) and House Foreign Affairs Committee Ranking Member Michael McCaul (TX-10) will introduce this legislation in the U.S. House of Representatives tomorrow. 

“America’s innovation in semiconductors undergirds our entire innovation economy, driving the advances we see in autonomous vehicles, supercomputing, augmented reality, IoT devices and more. Unfortunately, our complacency has allowed our competitors – including adversaries – to catch up. This bill reinvests in this national priority, providing targeted tax incentives for advanced manufacturing in the US, funding basic research in microelectronics, and emphasizing the need for multilateral engagement with our allies in bringing greater transparency and attention to security and integrity threats to the global supply chain,” said Sen. Warner.

“Semiconductors underpin nearly all innovation today and are critical to U.S. communications and defense computing capabilities. While Texas has been a leader in manufacturing this technology and the U.S. leads the world in chip design, most of those chips are manufactured outside the United States,” said Sen. Cornyn. “This legislation would help stimulate advanced semiconductor manufacturing capabilities domestically, secure the supply chain, and ensure U.S. maintains our lead in design while creating jobs, lowering our reliance on other countries for advanced chip fabrication, and strengthening national security.” 

“As the global economy becomes more interconnected, it is essential that the U.S. maintains the ability to produce the hardware that our high-tech economy depends on. Semiconductors are fundamental components of our phones, medical devices, and the future of quantum computing,” said Congresswoman Matsui. “In order for the U.S. to stay at the forefront of this strategically important industry, we must ensure that we lead from research and development all the way to the assembly line. The CHIPS for America Act will make needed investments in this essential hardware, allowing our domestic industry to continue to innovate and thrive.”

“Ensuring our leadership in the future design, manufacturing, and assembly of cutting edge semiconductors will be vital to United States national security and economic competitiveness. As the Chinese Communist Party aims to dominate the entire semiconductor supply chain, it is critical that we supercharge our industry here at home. In addition to securing our technological future, the CHIPS Act will create thousands of high-paying U.S. jobs and ensure the next generation of semiconductors are produced in the US, not China,” said Rep. McCaul.

The CHIPS For America Act: 

  • Creates a 40-percent refundable ITC for qualified semiconductor equipment (placed in service) or any qualified semiconductor manufacturing facility investment expenditures through 2024. The ITC is reduced to 30 percent in 2025, 20 percent in 2026, and phases out in 2027. 
  • Directs the Secretary of Commerce to create a $10 billion federal match program that matches state and local incentives offered to a company for the purposes of building a semiconductor foundry with advanced manufacturing capabilities.
  • Creates a new NIST Semiconductor Program to support advanced manufacturing in America. The program’s funds will also support STEM workforce development, ecosystem clustering, U.S. 5G leadership, and advanced assembly and test.
  • Authorizes funding for DOD to execute research, development, workforce training, test, and evaluation for programs, projects, and activities in connection with semiconductor technologies and direct the implementation of a plan to utilize Defense Production Act Title III funding to establish and enhance a domestic semiconductor production capability.
  • Requires the Secretary of Commerce to complete a report within 90 days to assess the capabilities of the U.S. industrial base to support the national defense in light of the global nature of the supply chain and significant interdependencies between the U.S. industrial base and that of foreign countries as it relates to microelectronics.
  • Establishes a trust fund in the amount of $750M over ten years to be allocated upon reaching an agreement with foreign government partners to participate in a consortium in order to promote consistency in policies related to microelectronics, greater transparency in microelectronic supply chains, and greater alignment in policies towards non-market economies. To incentivize multilateral participation, a common funding mechanism is established to use this fund to support the development of secure microelectronics and secure microelectronics supply chains. A report to Congress is required for each year funding is available. 
  • Directs the President to establish, through the National Science and Technology Council, a Subcommittee on Semiconductor Leadership responsible for the development of a national semiconductor research strategy to ensure U.S. leadership in semiconductor technology and innovation, which is critical to American economic growth and national security, and to coordinate semiconductor research and development.
  • Creates new R&D streams to ensure U.S. leadership in semiconductor technology and innovation is critical to American economic growth and national security:
    • $2 billion to implement the Electronics Resurgence Initiative of the Defense Advanced Research Projects Agency.
    • $3 billion to implement semiconductor basic research programs at the National Science Foundation.
    • $2 billion to implement semiconductor basic research programs at the Department of Energy.
    • $5 billion to establish an Advanced Packaging National Manufacturing Institute under the Department of Commerce to establish U.S. leadership in advanced microelectronic packaging and, in coordination with the private sector, to promote standards development, foster private-public partnerships, create R&D programs to advance technology, create an investment fund ($500M) to support domestic advanced microelectronic packaging ecosystem, and work with the Secretary of Labor on establishing workforce training programs and apprenticeships in advanced microelectronic packaging capabilities.

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WASHINGTON – Today, the U.S. Senate voted 80-17 to take up the Great American Outdoors Act, a bill championed by U.S. Sen. Mark R. Warner (D-VA) that would permanently fund the Land and Water Conservation Fund (LWCF) and address the $12 billion maintenance backlog at National Park Sites (NPS) across the country. The bipartisan legislation includes Sen. Warner’s Restore Our Parks Act, which would help tackle the $1.1 billion in deferred maintenance at Virginia’s parks and create up to 10,340 jobs in the Commonwealth alone. Today’s procedural vote – known as a “cloture vote on the motion to proceed” – sets up the bill for a final up-or-down vote in the Senate later this week.

“We are one step closer to passing this critical bill that would preserve our cherished national parks and help create jobs in the Commonwealth during this time of economic crisis. For years, I have been sounding the alarm about urgently-needed repairs to our trails, buildings, roads, and bridges that have been ignored for too long,” said Sen. Warner. “If Congress continues to delay addressing these infrastructure challenges, our local communities will be at further risk of losing out on important tourism dollars on top of the economic challenges they are currently facing as a result of the COVID-19 pandemic. With Virginia’s national parks supporting more than 16,000 jobs and contributing $953 million dollars in value added to our economy,that’s a loss we just can’t afford. After clearing an important first step on this bipartisan bill today, we’re now closer than ever to making sure our bipartisan solution to the parks backlog becomes law.”

Last week, the National Park Service released a report that estimated that an average of 40,300 direct jobs and 100,100 direct and indirect jobs would be supported nationally by the Restore Our Parks Act if passed as part of the Great American Outdoors Act. In Virginia, where the maintenance backlog currently sits at more than $1.1 billion dollars in overdue projects and surpasses that of every state except for California and the District of Columbia, it is estimated that 10,340 jobs would be created or supported as a result of Sen. Warner’s push to address the national parks backlog.

Today’s vote comes more than three years after Sen. Warner wrote and introduced the first comprehensive, bipartisan legislation to provide relief to national parks across the country. In March 2017, Sen. Warner teamed up with Sen. Rob Portman (R-OH) to introduce the National Park Legacy Act, which would have eliminated the NPS maintenance backlog by creating a thirty-year designated fund to address maintenance needs at visitor centers, rest stops, trails and campgrounds, as well as transportation infrastructure operated by NPS such as the George Washington Memorial Parkway and Arlington Memorial Bridge. That same year, the U.S. Department of Interior announced its own proposal, drawing heavily on the initial proposal from Sens. Warner and Portman. However, the Administration proposal – which was introduced in the Senate as the National Park Restoration Act by Sens. Lamar Alexander (R-TN) and Angus King (I-ME) – would not have established a dedicated funding stream for NPS maintenance. (In an attempt to address overdue maintenance needs at national parks nationwide, the Administration has also unsuccessfully pressed to dramatically increase entrance fees.)

In March 2018, after extensive negotiations among Sens. Warner, Portman, Alexander, and King, the bipartisan group introduced the Restore Our Parks Act, a bipartisan consensus proposal endorsed by the Trump Administration, to invest in overdue maintenance needs at NPS sites. The bill would reduce the maintenance backlog by establishing the “National Park Service Legacy Restoration Fund” and allocating existing revenues from onshore and offshore energy development. This funding would come from 50 percent of all revenues that are not otherwise allocated and deposited into the General Treasury, not exceeding $1.3 billion each year for the next five years. In February 2019, Sen. Warner reintroduced the Restore Our Parks Act and, the bill was overwhelmingly approved by the Senate Energy and Natural Resources Committee in November.

In March 2020, following the President’s announcement that he would back the bipartisan Restore Our Parks Act as well as full and permanent funding for LWCF, Sen. Warner, along with Sens. Cory Gardner (R-CO), Joe Manchin (D-WV), Steve Daines (R-MT), Portman, King, Alexander, and Richard Burr (R-NC) introduced the Great American Outdoors Act, which would provide $9.5 billion over five years to the National Park Service, Forest Service, Fish and Wildlife Service, Bureau of Land Management, and Bureau of Indian Education to address the deferred maintenance backlog at these agencies. The legislation would also provide permanent, mandatory funding for the LWCF, which provides states and local communities with technical assistance, recognition, and funding to help preserve and protect public lands. Virginia has received approximately $368.5 million in LWCF funding over the past four decades to help protect dozens of national parks, wildlife refuges, forests, trails and more.

A list of organizations in support of the Great American Outdoors Act can be found here

A full list of deferred maintenance needs at Virginia’s national parks can be found here

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WASHINGTON – Today U.S. Sen. Mark R. Warner (D-VA), spoke on the Senate floor about the Great American Outdoors Act, a bill championed by Sen. Warner that would permanently fund the Land and Water Conservation Fund (LWCF) and address the $12 billion maintenance backlog at National Park Service (NPS) sites across the country. The bipartisan legislation includes Sen. Warner’s Restore Our Parks Act, which would help tackle the $1.1 billion in deferred maintenance at Virginia’s parks and create up to 10,340 jobs in the Commonwealth alone. Yesterday, the bill cleared a key procedural hurdle– known as a “cloture vote on the motion to proceed”  by a vote of 80-17, setting up the bill for a final up-or-down vote in the Senate later this week.

In his remarks on the Senate floor, Sen. Warner said: “This represents one of the largest investments in the infrastructure of our national parks in the over 100-year history of the National Park Service. In addition to preserving our national treasures for future generations to enjoy, this legislation will also create tens of thousands of jobs across the country and provide a positive economic impact for gateway communities that depend on our national parks. A recent study by the National Park Service indicates that the Great American Outdoors Act will support over 100,000 jobs and contribute $17.5 billion in total economic output through funding deferred maintenance projects at the Park Service. In Virginia, over 10,000 jobs could be created by eliminating the maintenance backlog at Park Service sites.”

Background on the Great American Outdoors Act: 

Last week, the National Park Service released a report that estimated that an average of 40,300 direct jobs and 100,100 direct and indirect jobs would be supported nationally by the Restore Our Parks Act if passed as part of the Great American Outdoors Act. In Virginia, where the maintenance backlog currently sits at more than $1.1 billion dollars in overdue projects and surpasses that of every state except for California and the District of Columbia, it is estimated that 10,340 jobs would be created or supported as a result of Sen. Warner’s push to address the national parks backlog.

The Senate’s action on this bill comes more than three years after Sen. Warner wrote and introduced the first comprehensive, bipartisan legislation to provide relief to national parks across the country. In March 2017, Sen. Warner teamed up with Sen. Rob Portman (R-OH) to introduce the National Park Legacy Act, which would have eliminated the NPS maintenance backlog by creating a thirty-year designated fund to address maintenance needs at visitor centers, rest stops, trails and campgrounds, as well as transportation infrastructure operated by NPS such as the George Washington Memorial Parkway and Arlington Memorial Bridge. That same year, the U.S. Department of Interior announced its own proposal, drawing heavily on the initial proposal from Sens. Warner and Portman. However, the Administration proposal – which was introduced in the Senate as the National Park Restoration Act by Sens. Lamar Alexander (R-TN) and Angus King (I-ME) – would not have established a dedicated funding stream for NPS maintenance. (In an attempt to address overdue maintenance needs at national parks nationwide, the Administration has also unsuccessfully pressed to dramatically increase entrance fees.)

In March 2018, after extensive negotiations among Sens. Warner, Portman, Alexander, and King, the bipartisan group introduced the Restore Our Parks Act, a bipartisan consensus proposal endorsed by the Trump Administration, to invest in overdue maintenance needs at NPS sites. The bill would reduce the maintenance backlog by establishing the “National Park Service Legacy Restoration Fund” and allocating existing revenues from onshore and offshore energy development. This funding would come from 50 percent of all revenues that are not otherwise allocated and deposited into the General Treasury, not exceeding $1.3 billion each year for the next five years. In February 2019, Sen. Warner reintroduced the Restore Our Parks Act and, the bill was overwhelmingly approved by the Senate Energy and Natural Resources Committee in November.

In March 2020, following the President’s announcement that he would back the bipartisan Restore Our Parks Act as well as full and permanent funding for LWCF, Sen. Warner, along with Sens. Cory Gardner (R-CO), Joe Manchin (D-WV), Steve Daines (R-MT), Portman, King, Alexander, and Richard Burr (R-NC) introduced the Great American Outdoors Act, which would provide $9.5 billion over five years to the National Park Service, Forest Service, Fish and Wildlife Service, Bureau of Land Management, and Bureau of Indian Education to address the deferred maintenance backlog at these agencies. The legislation would also provide permanent, mandatory funding for the LWCF, which provides states and local communities with technical assistance, recognition, and funding to help preserve and protect public lands. Virginia has received approximately $368.5 million in LWCF funding over the past four decades to help protect dozens of national parks, wildlife refuges, forests, trails and more.

A list of organizations in support of the Great American Outdoors Act can be found here.  

A full list of deferred maintenance needs at Virginia’s national parks can be found here.

  

The full text of Sen. Warner’s remarks as prepared for delivery appears below: 

Mr./Madam President, I rise today to join my colleagues in support of the Great American Outdoors Act.

This historic legislation represents the most significant investment in our public lands in a generation… and a job-creating investment in our outdoor economy.

The Great American Outdoors Act will provide up to $9.5 billion over five years to address the deferred maintenance backlogs at the National Park Service, and other federal land agencies. This bill also finally provides full and mandatory for the Land and Water Conservation Fund (LWCF). It has been a long road getting to this point, but I am thrilled we are finally considering this important, job-creating legislation.

Years of chronic underfunding has forced the Park Service to defer maintenance on countless trails, buildings, and historic structures – as well as thousands of miles of roads and bridges. Today, the National Park Service faces a deferred maintenance backlog of $12 billion. Over half of all Park Service assets are currently in desperate need of repairs. In Virginia alone, the deferred maintenance backlog sits at over $1.1 billion… more than any other state but California and the District of Columbia. 

To address this growing problem in Virginia and across the country, Sens. Portman, King, Alexander, and I introduced legislation – the Restore Our Parks Act – that would provide $6.5 billion to the Park Service to reduce its maintenance backlog utilizing unobligated energy revenues. In March, our bill was combined with Sen. Gardner and Sen. Manchin’s LWCF legislation to form the Great American Outdoors Act.

This bill on the floor today will provide up to $6.65 billion over five years to repair our national parks. That’s enough to address more than half of the current deferred maintenance backlog and completely fund the highest-priority deferred maintenance projects within the agency. This represents one of the largest investments in the infrastructure of our national parks in the over 100-year history of the National Park Service.

In addition to preserving our national treasures for future generations to enjoy, this legislation will also create tens of thousands of jobs across the country and provide a positive economic impact for gateway communities that depend on our national parks.

A recent study by the National Park Service indicates that the Great American Outdoors Act will support over 100,000 jobs and contribute $17.5 billion in total economic output through funding deferred maintenance projects at the Park Service. In Virginia, over 10,000 jobs could be created by eliminating the maintenance backlog at Park Service sites. And I want to give a few examples of how this legislation will create jobs and help preserve our natural heritage in my home state.

Here in the National Capital Region, the George Washington Memorial Parkway—which is managed by the National Park Service—has over $700 million in deferred maintenance. Matter of fact, anyone who travels on that road knows that north of the T.R. Bridge, we actually had a sinkhole appear in the parkway within the last year—an enormous safety threat as well as an inconvenience to the traveling public. Our legislation would help rebuild this critical transportation route between Virginia, Washington D.C., and Maryland… reducing traffic and creating jobs.

In Virginia, we’re blessed with a number of historic battlefields. The Richmond National Battlefield Park has over $5 million in deferred maintenance. And the nearby Petersburg National Battlefield has nearly $9 million in deferred maintenance. Our legislation would help preserve these important pieces of our heritage, while also supporting the local economies.

At Shenandoah National Park, one of the crown jewels of the National Park Service, the maintenance backlog sits at $90 million. Our legislation will put people to work on these overdue repairs…including to Skyline Drive and stretches of the Appalachian Trail… which are at the heart of Virginia’s outdoor tourism industry.

As you head Southwest, the Blue Ridge Parkway has accumulated over $508 million in deferred maintenance needs. That’s over $1 million per mile of the Parkway. The Great American Outdoors Act will put Virginians to work on these repairs… so visitors can continue to appreciate the beauty of the Appalachian Highlands and support the local economy.

I’ll give one final example: Colonial National Historical Park, which is home to Historic Jamestown and Yorktown Battlefield. At this park containing some of our country’s most significant sites, there are deferred maintenance needs totaling over $433 million. With this legislation, the wait on these repairs is over. We’re going to create jobs and make sure this important part of our history is around for years to come.  

In addition to securing up to $9.5 billion to address the maintenance backlog at our public land agencies, the Great American Outdoors Act provides full, mandatory funding for the Land and Water Conservation Fund. LWCF is the most important tool the federal government and states have to conserve natural areas, water resources, and cultural heritage, and to expand recreation opportunities to all communities.

Over the past four decades, Virginia has received over $368 million in LWCF funding that has been used to protect critical places in the Commonwealth like Rappahannock River Valley and Back Bay National Wildlife Refuges and the Appalachian National Scenic Trail. With full funding for LWCF, we will be able to conserve additional critical lands in the Commonwealth and provide more recreation opportunities for Virginians from the coalfields to the Chesapeake Bay and everywhere in between.

In closing, I urge my colleagues to support this historic legislation that will help restore our national parks and public lands, create tens of thousands of jobs across the country, and expand recreation opportunities for millions of Americans.

Thank you, Mr./Madam President. I yield back. 

 

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 WASHINGTON, DC – Today, U.S. Senators Mark Warner (D-VA) Rob Portman (R-OH), Lamar Alexander (R-TN), and Angus King (I-ME) announced that a new National Parks Service (NPS) study of their Restore Our Parks legislation found that the legislation will support an average of 40,300 direct jobs and a total of 100,100 direct and indirect jobs over the next five years to help address the more than $12 billion backlog in long-delayed maintenance projects at the NPS. Next week, the Senate will consider S. 3422, the Great American Outdoors Act, landmark legislation to address the deferred maintenance backlog across the federal land management agencies and to provide permanent funding for the Land and Water Conservation Fund. The Great American Outdoors Act includes the Restore Our Parks legislation, which will provide up to $6.5 billion over five years to address priority deferred maintenance needs at our national parks.

“For years, Congress has critically underfunded our national parks resulting in the buildup of $12 billion in deferred maintenance costs. Despite receiving more than 318 million visitors annually, our national parks have been unable to maintain upkeep and repairs on visitor centers, rest stops, trails, campgrounds, and transportation infrastructure operated by the Park Service. Addressing these critical needs will not only help preserve America’s story for generations to come, but it will help support the communities across the country that rely on the economic activity generated by our national parks. In the Commonwealth alone, our national parks support more than 16,000 jobs and contribute $953 million dollars in value added to our economy. I’ve been calling on Congress for years to make these much-needed investments and it’s time we get it done,” said Warner. 

America is hurting right now and folks need jobs. That’s why I’m so pleased the National Parks Service study shows that my bill with Senators Warner, King, and Alexander, the bipartisan Restore Our Parks Act, will support more than 40,000 direct jobs over the next five years as we rebuild our national parks infrastructure. The Restore Our Parks Act will address the $12 billion deferred maintenance backlog at our national park sites throughout the country, including themore than $100 million maintenance backlog in Ohio’s eight national parks. We need our parks more than ever, and our parks need us. I urge my colleagues to support this legislation when it comes to the Senate floor,” said Portman. 

“The Great American Outdoors Act is the most important legislation in 50 years to help our national parks and public lands. In addition to cutting in half the deferred maintenance backlog for the Great Smoky Mountains National Park in Tennessee and our nation’s 418 other national parks, the National Park Service just announced the legislation will help support over 100,000 new jobs, which is good news for a lot of American families. With the strong support of President Trump and over 800 conservation and sportsmen’s organizations and 59 Senate cosponsors, it should become law by the 4th of July,” said Alexander.  

“Each year, millions of people come from across the globe to see the sun rise from Cadillac Mountain, walk to Thunder Hole, or explore any other of the breathtaking, one-of-a-kind vistas Acadia National Park has to offer,” said King. “When those people come to our state, they spend money – supporting Maine jobs, shops, industries, and communities. Today’s report makes clear just how vital ANP and other national parks around the country are to America’s economy, and emphasizes the importance of our bipartisan Restore Our Parks legislation – which, in light of the coronavirus pandemic’s impact on tourism, is needed now more than ever.”

NOTE: Earlier this year, Warner joined several of his colleagues in introducing the bipartisan Great American Outdoors Act. Notably, the legislation includes Senators Warner, Rob Portman (R-OH), Lamar Alexander (R-TN), and Angus King’s (I-ME) Restore Our Parks Act,legislation to help address the backlog in long-delayed maintenance projects at the National Park Service (NPS), including over $100 million in deferred maintenance at Ohio’s eight national park sites. Portman worked with his colleagues to expand his legislation in the Great American Outdoors Act to also include funding to address the deferred maintenance backlog at the U.S. Forest Service, U.S. Fish and Wildlife Service, Bureau of Land Management, and Bureau of Indian Education. The Great American Outdoors Act now provides $1.9 billion per year for five years into the National Parks and Public Land Legacy Restoration Fund from half of unobligated on and offshore energy revenues to address maintenance needs on all federal lands.

 

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WASHINGTON – U.S. Sens. Mark R. Warner (D-VA), Bernie Sanders (I-VT), Doug Jones (D-AL) and Richard Blumenthal (D-CT) today introduced the Paycheck Security Act to cover the wages and benefits of employees of affected businesses and non-profits until the economic and public health crisis is resolved. 

“Without aggressive action to help workers keep their jobs and businesses stay open, we risk an economic disaster that could take decades to repair,” said Sen. Warner. “Right now nearly 39 million Americans are out of work due to the coronavirus. This is hitting working class folks particularly hard, with 40 percent of all workers making under $40,000 out of work right now. We need to be thinking big and helping people who have lost their jobs. Our proposal will create a national paycheck security program for American workers and help businesses keep their lights on during the darkest days of this crisis. Paycheck security means the federal government would help cover the payroll expenses for rank-and-file workers who have been furloughed or laid off because of the coronavirus, so that families can avert financial calamity and workers can stay connected to employers and health benefits while we get through this crisis.” 

“This unprecedented crisis demands an unprecedented legislative response,” said Sen. Sanders. “We cannot continue to allow tens of millions of Americans to lose their jobs, income, and health insurance during this horrific pandemic.  In order to avoid another Great Depression, Congress must act boldly and aggressively to ensure that every American worker receives their paycheck and health insurance until this crisis is over.  The Paycheck Security Act we are introducing today will provide the urgent financial assistance that working families and small businesses desperately need to pay their bills and make ends meet.”

“As Americans continue to struggle through the health and economic crisis we’re facing, Congress needs to continue to provide relief to workers and small businesses – the lifeblood of our economy. The Paycheck Security Act would direct economic relief to American workers who are suffering by helping employers maintain their payroll,” Sen. Jones said. “Our legislation is exactly the type of big, bold approach that we need to take, given the scale of this crisis. If we can provide the resources that businesses need to tide them over until it is safe to re-open, we can keep more folks safe and help keep workers on the payroll and receiving vital benefits like health insurance. I urge my colleagues on both sides of the aisle to include this in the next relief package, so that we can continue to help the people in Alabama and throughout our country who need it most.” 

“Instead of allowing businesses to go into free fall and trying to pick up the pieces later, we’re proposing a guardrail at the edge of the precipice. Our plan gives workers the steady comfort of a consistent paycheck from an employer they can go back to when the crisis abates. And we’re offering business the ability to hold onto those workers, so they can start up again as easily as possible. If we fail to take aggressive relief measures now, we’ll kneecap our future recovery,” said Sen. Blumenthal.

Since the COVID-19 pandemic began, nearly 39 million workers have filed for unemployment. More than 20 million people lost their jobs in the month of April alone, the most in a single month on record. An estimated 27 million people have already lost their employer-provided health insurance coverage, and millions more could lose coverage before this crisis is over. The unemployment rate is likely close to 20 percent, and could exceed the depths of the Great Depression in the coming months. 

The pandemic has also devastated small businesses and sole proprietors. A recent study found that more than 100,000 small businesses have already closed permanently as a result of the health and economic crisis.  Another recent surveyshowed that 52 percent of small businesses expect to go out of business within the next six months.  Allowing millions of small and independent businesses to fail will have a devastating impact on the economy and will make the road to recovery longer and harder.

Other countries have avoided the massive job losses seen in the United States primarily because their governments have adopted programs to keep workers on payroll and attached to their employers until this crisis is over. ThePaycheck Security Act would avert mass layoffs, stem catastrophic unemployment levels and prevent irreversible business losses with a refundable tax credit big enough ($90,000 annually per employee) to rehire and pay laid off and furloughed workers and restore their health care benefits. It will also provide small and mid-sized businesses with the funds they need to pay for rent, mortgages, utilities and other operating costs until they can reopen safely and sales begin to recover.

“I am supportive of this strong proposal which builds upon the Paycheck Protection Program and Employee Retention Tax Credit,” said Senate Democratic Leader Chuck Schumer (D-NY).

“Our country is facing a once-in-a-lifetime economic crisis with nearly 1 in 5 Americans unemployed. The response must meet the moment. In addition to significantly expanding payroll support, we must support small businesses that are being crushed and need cash to cover bills and replace inventory when they reopen. Without additional help many small businesses will not survive this crisis and it will take far longer to climb out of this economic ditch. This legislation would keep more employees on payroll and deliver critical help to the smallest, most vulnerable businesses,” said Finance Committee Ranking Member Sen. Ron Wyden (D-OR).

A more extensive summary of the bill is available here. Bill text can be found here

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WASHINGTON – Today U.S. Sen. Mark R. Warner (D-VA) participated in a virtual Senate Banking Committee hearing on the coronavirus economic response with Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin. In his questioning of Chairman Powell, Warner highlighted the dire economic conditions facing many Americans and pressed the Fed Chairman on whether Congress and the Fed were doing enough to help everyday Americans and prevent an economic depression. 

In his remarks at the beginning of the questioning period, Warner said, “I point to the survey that the Fed put out last week that literally said 40 percent of our fellow Americans who make less than $40,000 – 40 percent of those folks – had their jobs disappear between February and March. We all know as well that 36 million Americans were unemployed. We’re at depression levels of unemployment and I think statistics have always shown that particularly losing your job during a recession could actually incur long-time income losses, up to 19 percent over the coming decade, according to some of the statistics that I’ve seen.”

In response to Sen. Warner’s question about what would happen if Congress fails to take appropriate action, Chairman Powell said, “…There is clear evidence that when you have a situation where people are unemployed for long periods of time, that can permanently weigh on both, their careers and their ability to go back to work, and also weigh on the economy for years – equally so with small and medium-sized businesses, which are the jobs machine of our great economy. If we allow unnecessary, avoidable insolvencies because of, effectively, a natural disaster, that too will destroy the work of many families and generations but it will also weigh on the economy.”

With coronavirus-related job losses now exceeding 36 million, Sen. Warner has been outspoken on the need for Congress to take bold, large-scale action to assist struggling American workers and prevent further economic devastation. Last week, he took to the Senate floor to call on his colleagues to pass legislation that would provide paychecks to laid-off and furloughed workers.

In April, Sens. Mark R. Warner (D-VA), Bernie Sanders (I-VT), Doug Jones (D-AL) and Richard Blumenthal (D-CT) released a proposal to establish a ‘Paycheck Security’ program to cover the wages and benefits of employees of affected businesses and non-profits until the economic and public health crisis is resolved. The Senators’ proposed plan would cover the full payroll and benefits of workers at distressed businesses and non-profits, up to $90,000 per employee, for at least six months. The Paycheck Security plan would also provide funds to cover fixed operating costs such as rent, utilities, and insurance costs to help employers weather the economic crisis. The Senators released an extensive white paper detailing eligibility, verification, and other contours of their proposal, which is available here.

The full exchange between Sen. Warner and Chairman Powell is transcribed below:

Sen. Mark R. Warner: Thank you gentlemen. I want to start, Chairman Powell, with some of the comments I think you’ve made and I want to reinforce them. I think we all realize and understand that losing a job at any point if your lifetime is an enormous challenge. Losing your job in the midst of a recession or depression could be devastating. I point to the survey that the Fed put out last week that literally said 40 percent of our fellow Americans who make less than $40,000 – 40 percent of those folks – had their jobs disappear between February and March. We all know as well that 36 million Americans were unemployed. We’re at depression levels of unemployment and I think statistics have always shown that particularly losing your job during a recession could actually incur long-time income losses, up to 19 percent over the coming decade, according to some of the statistics that I’ve seen. So again, I would like you to take a moment to say – we have to measure overdoing versus underdoing – but with this type of devastation, with this type of pain disproportionately hitting low and moderate-income Americans, can you speak to us of the results and the long-term scars this would present if we don't take aggressive action?

Chairman Jerome Powell: Thank you. I'd be glad to. So, there is clear evidence that when you have a situation where people are unemployed for long periods of time, that can permanently weigh on both, their careers and their ability to go back to work, and also weigh on the economy for years – equally so with small and medium-sized businesses, which are the jobs machine of our great economy. If we allow unnecessary, avoidable insolvencies because of, effectively, a natural disaster, that too will destroy the work of many families and generations but it will also weigh on the economy. So that those are things to keep in mind. As I said earlier, this is the biggest response by Congress ever, and the fastest, and the biggest from us, and still, this is the biggest shock we’ve in living memory and the question looms in the air of ‘is it enough?’

Sen. Warner: And I would argue that historically, whether it's our country or other nations, that governments tend to undershoot during these periods, and we now have 36 million Americans without work and 40 percent of the folks under $40,000 a year losing their work, and this scar could be deep and wide.

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WASHINGTON – Today U.S. Sen. Mark R. Warner (D-VA), spoke on the Senate floor about the need to provide relief to the more than 30 million Americans who have lost their jobs due to the coronavirus outbreak, as well as the potential consequences if Congress fails to act.  In his remarks, Warner urged Congress to include a Paycheck Security program in the next coronavirus relief bill.

In a speech on the floor of the U.S. Senate, Sen. Warner said in part, “Just as it took the U.S. years to emerge from the Great Depression, it could take years or even decades to recover from the coronavirus recession, if we do not take immediate, bold action in the next coronavirus relief bill. Our first goal must be to prevent further job losses, as well as permanent disruptions like business closures, evictions, and foreclosures. Second, we must work quickly to reduce the economic uncertainty facing workers and small businesses. To do this, we need to provide immediate assistance to the millions of Americans workers who have gone overnight from a steady job to unemployment through no fault of their own.”

He continued, “I’m not talking about another stimulus check. I’m not talking about unemployment benefits. I’m talking about paychecks. This proposal, which I have put forward with Senator Sanders, Senator Jones, and Senator Blumenthal, would create a national paycheck security program for American workers. It uses a grant model that has support on both the left and the right. And we know it works because it has been implemented successfully in several European countries. Paycheck security means that federal government would help cover the payroll expenses for rank-and-file workers who have been furloughed or laid off because of the coronavirus.”

In April, Sens. Mark R. Warner (D-VA), Bernie Sanders (I-VT), Doug Jones (D-AL) and Richard Blumenthal (D-CT) released a proposal to establish a ‘Paycheck Security’ program to cover the wages and benefits of employees of affected businesses and non-profits until the economic and public health crisis is resolved. The Senators’ proposed plan would cover the full payroll and benefits of workers at distressed businesses and non-profits, up to $90,000 per employee, for at least six months. The Paycheck Security plan would also provide funds to cover fixed operating costs such as rent, utilities, and insurance costs to help employers weather the economic crisis.

The Senators released an extensive white paper detailing eligibility, verification, and other contours of their proposal, which is available here.

 

The full text of Sen. Warner’s remarks as prepared for delivery appears below:

Mr. President, I rise today because we face the greatest unemployment crisis America has seen since the Great Depression. More than 33 million workers have lost their jobs due to the coronavirus pandemic. Millions of these folks have also lost their health insurance. I just read that 27 million have lost their insurance due to the virus. The Federal Reserve forecasts that 47 million Americans, or nearly one-third of the workforce, could lose their jobs.

These aren’t just numbers. They represent the pain being felt by families across this country as we enter the greatest economic crisis of our lifetime. Candidly, we need to face some hard truths about how we got here and what will come next if we fail to act. 

The reason we are facing this dire economic crisis is simple: The federal government failed to take appropriate actions to contain the coronavirus. That’s why we have had to do social distancing. It hasn’t been fun. It has been tough on all of us, but we know it has saved lives and begun to flatten the curve.

But we also know that things can’t just go back to normal overnight. Not before we have a vaccine. Not before the government, working with the private sector, finally solves the chronic shortages of testing and PPE that have hampered our response to this pandemic from day one. 

States like mine are working towards a “new normal,” where we gradually scale back social distancing where it is safe to do so. But it just not realistic to suggest, as the President has, that we can just immediately “reopen the economy” before we’ve contained this virus… As if companies will just resume normal business knowing another coronavirus outbreak could shut them down any day… As if a virus for which we still don’t have a vaccine didn’t just kill more than 80,000 of our fellow Americans…

Mr. President, it’s time to face the facts…about what it will take for our economy to recover from this public health crisis. There is not a magic switch that we can just flip. Unfortunately, there will not be a V-shaped recovery if we stay on our current course.  

Just as it took the U.S. years to emerge from the Great Depression, it could take years or even decades to recover from the coronavirus recession, if we do not take immediate, bold action in the next coronavirus relief bill.

Our first goal must be to prevent further job losses, as well as permanent disruptions like business closures, evictions, and foreclosures. Second, we must work quickly to reduce the economic uncertainty facing workers and small businesses. 

To do this, we need to provide immediate assistance to the millions of Americans workers…who have gone overnight from a steady job to unemployment through no fault of their own. I’m not talking about another stimulus check. I’m not talking about unemployment benefits. I’m talking about paychecks.

The proposal, which I have put forward with Senator Sanders, Senator Jones, and Senator Blumenthal, would create a national paycheck security program for American workers. A very similar proposal has been put forward by my friend on the other side of the aisle, Senator Hawley from Missouri.

It uses a direct support model that has support on both the left and the right. Matter of fact, the New York Times and Wall Street Journal have both commented in support. We know those editorial boards never agree on anything, but they both think this approach has merit. 

And we know this direct support approach works because it has been implemented successfully in several European countries, and in Canada—where the unemployment rate has gone up, but just by a couple of points. They’re not seeing the 20% unemployment we’re headed towards, or as the Federal Reserve and the administration have predicted, maybe even 25% unemployment within the next month.

Paycheck security means that federal government would help cover the payroll expenses for rank-and-file workers who have been furloughed or laid off because of the coronavirus.

These Treasury Department grants would cover salaries and wages up to $90,000 for each employee, plus benefits and run for at least six months. They would also provide funds to many businesses to help cover business operating costs such as rent and utilities.

The program would be delivered through the employee retention tax credit—something I worked hard to include in the earlier coronavirus relief bill—which already is set up at the IRS and can be leveraged to deliver far greater benefits than it currently provides. 

In exchange for the paycheck security grant, employers would commit to forgo further layoffs and maintain the pay and benefits of rank-and-file workers. They would also be required to suspend stock buybacks and limit CEO compensation for at least the term of the federal assistance.  

A national paycheck security program would immediately work to prevent financial calamity for millions of American families. At the same time, it would maintain or re-establish the critical link between workers and their employers. The re-establishment of that employment link would restore for many workers the employer-provided health insurance that they have lost due to layoffs.

If we re-establish this connection, the economy would be able to bounce back much more quickly after the public health crisis ends. The certainty provided by this program would also give consumers the confidence they need to begin spending money in the economy, accelerating the eventual economic recovery.

It will be expensive—and I say this as someone who has spent a long time working on trying to reduce the deficit. But when we compare it to the over $600 billion we’ve spent on the Paycheck Protection Program (PPP), which has only helped one section of our economy—businesses under 500 employees—that’s done nothing for mid-sized businesses with 500-10,000 workers, I think the alternative will be much cheaper. And it will be pennies compared to the damage that will be done if we fail to adequately assist our fellow Americans in this moment of economic crisis.

Now Mr. President, I am pleased my colleagues in the House have put forward an initial draft of their view of the next coronavirus relief legislation. It has a number of important provisions. However, I believe it has not taken the bold step of saying—before we refill the funding buckets for these other programs‚ which have had mixed results in some cases—perhaps we should take a time out, and ask if there is a better way to provide the security that the American people are looking for from their government. 

But one thing my House colleagues and I share is an enormous sense of urgency. With unemployment at nearly 15% and rising, this is not the time to play wait and see. It is no exaggeration to say that we face the prospect of not just a recession, but another Great Depression. Every day we delay, we dig ourselves deeper and deeper into the hole we must eventually climb out of when this crisis is behind us.

And as we enter negotiations over the next phase of the coronavirus response, I would encourage my colleagues to look to bold solutions. Let’s give our fellow Americans paycheck security. Put paychecks in their hands and help get them back to work as soon as it is safe to do so. 

Thank you, Mr. President.

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