Press Releases

WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) introduced legislation today to put an end to future government shutdowns, such as the one that would happen later this week absent cooperation from Senate Republicans, who voted to block legislation that would have kept the government funded through December 3.

The Stop STUPIDITY (Shutdowns Transferring Unnecessary Pain and Inflicting Damage In The Coming Years) Act would protect federal workers and employees, who are often forced to go without pay during government shutdowns, by keeping the government running in the case of a lapse in funding. This legislation would also help prevent the chaos that shutdowns can wreak on the lives of veterans, seniors, and other Americans who rely on timely government services. Additionally, it would help prevent the kind of backlogs and delays commonly associated with government shutdowns, including those affecting the Internal Revenue Service, the Social Security Administration, and the Supplemental Nutrition Assistance Program (SNAP).

“Our nation’s federal workers have worked day-in and day-out during the pandemic to make sure that American families and businesses can count on the government in their time of need. I can’t think of a worse way to repay these civil servants than by shutting down the government in the midst of an ongoing health and economic crisis. My legislation would spare federal workers from the volatility of government shutdowns, and preserve the stability our government necessitates as we continue to fight COVID-19,” said Sen. Warner.

In the past, government shutdowns have left federal employees no other recourse than to drain their savings, tank their credit, or choose between putting food on the table or keeping a roof above their heads. The Stop STUPIDITY Act would allow federal workers to keep receiving a paycheck during shutdowns by automatically renewing government funding at the same levels as the previous fiscal year, with adjustments for inflation. This legislation would fund all aspects of the government, except for the legislative branch and the Executive Office of the President – effectively forcing Congress and the White House to come to the negotiating table without putting the economy at risk or hurting the American public. 

A copy of the bill text is available here.

 

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WASHINGTON – U.S. Sens. Mark R. Warner (D-VA) and Bill Hagerty (R-TN) introduced legislation to provide much-needed tax relief to working artists by updating the Qualified Performing Artist (QPA) tax deduction, which allows certain performing artists to deduct the cost of expenses incurred in the course of their employment. The Performing Artist Tax Parity Act would update the thresholds of the QPA deduction to ensure that more lower- and middle-income artists can benefit from the tax break.

The Performing Artist Tax Parity Act is endorsed by numerous organizations advocating for the rights of emerging artists, including the Department for Professional Employees, AFL-CIO, the Actors’ Equity Association, the Theatre Communications Group, the Recording Academy, and the Nashville Songwriters Association.

“The COVID-19 pandemic has been devastating for performers and artists,” Sen. Warner said. “Even as widespread vaccinations allow venues to reopen, many actors, musicians and performing artists are still struggling to recover. I’m glad to be working on a bipartisan solution to help ease some of the burden on working artists during a very difficult time.”

“As a son of Tennessee and my state’s former Commissioner of Economic & Community Development, I appreciate how vital our entertainment sector is to both Tennessee’s rich culture and its economy,” Sen. Hagerty said. “I’m pleased to introduce and work on a bipartisan basis with Senator Warner on this important legislation that will help Tennessee’s creative industry and the performing artists who make it truly thrive. Under our legislation, lower- and middle-income performing artists from Mountain City to Memphis will get to keep much more of their hard-earned wages because it updates a Reagan-era tax deduction that helps artists account for the costs of work-related expenses and adjusts it for the damaging impacts of inflation.”

The Qualified Performing Artist tax deduction has not been updated since its inception in 1986 and is currently only available to those making less than $16,000 a year, meaning that very few artists qualify. The Performing Artist Tax Parity Act will update and increase the income ceiling to $100,000 for individuals and $200,000 for married joint filers, allowing many more lower and middle-income performing artists to receive tax relief for work-related expenses. 

A copy of the bill text can be found here. Companion legislation has been sponsored in the House of Representatives by Reps. Judy Chu (D-CA) and Vern Buchanan (R-FL).   

“I want to thank Senator Mark Warner and Senator Bill Hagerty for drafting and introducing this important legislation. They are great champions of the creative professionals that keep our industry successful,” said SAG-AFTRA president Fran Drescher. "We have been fighting for this legislation because it will allow working class entertainment and media professionals legitimate deductions so that they can retain more of their hard earned money during these most challenging times.”

“I am grateful for the leadership of Senators Warner and Hagerty as they fight for tax fairness for performing artists while the industry is in a historic crisis,” said Kate Shindle, president of Actors’ Equity Association. “The overwhelming majority of Equity stage managers and actors are working-class people who work hard to make ends meet, and unlike other workers, they often have to spend 30 percent of their income on business expenses. Our producers can deduct their business expenses, and we should be able to do so too. The Performing Artist Tax Parity Act will put more money in the pockets of working performers when they need it the most as we work toward recovery in the arts sector.”

“Ensuring union creative professionals can once again deduct work expenses is a top priority for DPE and our affiliated unions in the arts, entertainment, and media industries. We commend Senators Warner and Hagerty for introducing this important legislation in the Senate, which will put money back in the hands of hard-working, middle class professionals,” said Department for Professional Employees, AFL-CIO (DPE) President Jennifer Dorning.

“As the Senate Finance Committee moves to complete deliberations on its fiscal 2022 tax proposals, it should be noted that the more than 80,000 professional musicians of the American Federation Musicians have long used the Qualified Performing Arts Tax Parity Act provisions of the IRS code to recover usual and necessary expenses that employers in this industry have for decades refused to reimburse,” said AFM President Ray Hair. Working musicians continue to struggle while recovering from the loss of a bulk of their live music performance income due to the COVID19 pandemic. The Performing Artist Tax Parity Act is sensible legislation that we can all agree on.  It will restore these deductions and help musicians and other entertainment professionals recover from the ravages of the pandemic, which brought our industry to a screeching halt, while helping working artists and their families become whole again.”

“I commend Senators Warner and Hagerty for joining Representatives Chu and Buchanan in putting aside partisanship to help thousands of middle class behind-the-scenes entertainment workers and creative professionals,” stated IATSE International President Matthew D. Loeb. “The inability to deduct work expenses has been hurting our members long before the COVID-19 pandemic shut down our work and wiped out our wages. Now, with a full return to work in sight, Congress should pass this bill, establish tax fairness, and ensure our workers come back stronger than before.”

“Theatre Communications Group is pleased to endorse the Performing Artist Tax Parity Act, a tax correction sorely needed by performing artists, especially now, as their lives have been upended by COVID-19,” said Laurie Baskin, Director of Advocacy for Theatre Communications Group.

“RIAA strongly supports this bipartisan effort to make the tax code work for artists and musicians. This legislation will strengthen our music ecosystem and create new jobs and opportunities in touring, recording, and more – all while opening the door just a little wider for the next generation trying to break through. We applaud Senators Warner and Hagerty for fighting for tax fairness for working artists and musicians,” said RIAA CEO Mitch Glazier.

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WASHINGTON – U.S. Sens. Mark R. Warner (D-VA), Chris Van Hollen (D-MD), and Dianne Feinstein (D-CA), along with Reps. Dean Phillips (D-MN-3) and David Cicilline (D-RI-1) led a number of their congressional colleagues in a bicameral request urging President Biden to form an initiative to coordinate federal policies that will reshape and rebuild the economy so that it works for all. In a pair of letters penned by the three Senators and 18 House Representatives, the lawmakers requested that the proposed White House Initiative on Inclusive Economic Growth – originally envisioned by a coalition of impact-oriented organizations – build on the Administration’s ongoing efforts to address three monumental crises facing the nation: the COVID-19 economic fallout; a widening racial wealth gap; and climate change.

“While we support passing much of your Build Back Better Agenda through a budget reconciliation package, we believe it is also essential that the Administration prioritize executive action to reform capitalism in such a way that short-term profits and shareholder primacy no longer take center stage,” wrote the Senators. “A White House Initiative on Inclusive Economic Growth could play a central coordinating role between policy councils, executive agencies, and independent agencies in promoting equitable economic policy. The Initiative could also serve to convene private sector and civil society organizations that increasingly recognize the critical nature of a transition towards stakeholder capitalism.”

The Senators continued, “By changing the incentives for corporations and investors, we can lessen the disregard too often shown towards workers, environmental harms, or racial and gender inequity. And by renewing focus on community investing, we can work to mitigate the historic harms of disinvestment in Black, brown, tribal, and rural communities.”

In a separate letter, the House Representatives wrote, “The past year has exacerbated existing crises and brought the United States to an existential crossroads. The pandemic and the resulting economic fallout, systemic racial injustice, and the rising threat of climate change call for bold but necessary action: rebuilding our economy so that it works for all Americans. To address these issues, we need to change the underlying structures that have perpetuated them.”

“Several agencies are already beginning to prioritize more inclusive economic growth and community investing, including Treasury, the SEC, the Department of Commerce and others. In order to realize the full potential of these reforms across the federal government, we need coordination and prioritization from the Biden Administration,” they continued. “The principles behind stakeholder capitalism and community investing are increasingly being embraced across industries and in both the public and private sectors. With this new Initiative, we believe the White House can tap into a growing movement and ensure we transform these ideas into lasting, impactful policy.”

This bicameral effort has the support of organizations like B Lab and USIIA.

“We are motivated and excited by the support we are seeing for the White House Initiative on Inclusive Economic Growth. Now, more than ever, we have the momentum to drive inclusive economic growth through a partnership with the White House and Congress, have a say in rules and incentives for many of our decision-makers in corporate boardrooms and on Wall Street, and catalyze new investment for small businesses that line Main Street,” said Andrew Kassoy, co-founder and CEO of B Lab, a global network of organizations transforming the global economic system and one of the more than 50 organizations calling for the proposed White House Initiative.

“We are thankful for the leadership and support we have received from Sen. Warner, Reps. Phillips and Cicilline and many of their colleagues. The proposed initiative is the brainchild of more than 50 organizations that have dedicated their work to driving impact for underserved communities and in turn, building toward a more just and equitable economy. We look forward to partnering with Congress, the Administration and peers in the private sector on this once-in-a-generation opportunity to build back better and ensure that local economies and the capital markets work for all Americans,”said Fran Seegull, president of U.S. Impact Investing Alliance, one of the more than 50 organizations calling for the proposed White House Initiative.

Joining Reps. Phillips and Cicilline in the House letter are U.S. Reps. Gregory Meeks (D-NY-05), Adam Smith (D-WA-09), Alan Lowenthal (D-CA-47), Bill Pascrell Jr. (D-NJ-09), Mark DeSaulnier (D-CA-11), Judy Chu (D-CA-27), Betty McCollum (D-MN-04), Sheila Jackson Lee (D-TX-18), André Carson (D-IN-07), Joe Neguse (D-CO-02), Jamie Raskin (D-MD-08), Carolyn Maloney (D-NY-12), Yvette Clarke (D-NY-09), Nydia Velázquez (D-NY-07), Donald Beyer Jr. (D-VA-08), and Kathleen Rice (D-NY-04).

Full text of the Senate letter is available here. Text of the House letter is available here. 

 

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WASHINGTON – Today, U.S. Senator Mark R. Warner and Senator Tim Kaine, co-chair of the Senate Career and Technical Education (CTE) Caucus, announced $2,699,000 in federal funding from the U.S. Department of Labor (DOL)’s Employment and Training Administration (ETA)’s YouthBuild grant program to provide job training and education for at-risk youth. 

“These dollars will provide additional resources for at-risk young Virginians and help put them on a path toward successful careers,” the Senators said. “These federal investments in community-based job programs will be crucial to our country’s economic recovery.”

Warner and Kaine have been leaders in the Senate on efforts to support skills training programs to prepare students and workers for good-paying, in-demand jobs. In March, Kaine reintroduced the bipartisan Jumpstart Our Businesses By Supporting Students (JOBS) Act, cosponsored by Warner, to help improve access to job training programs by expanding Pell Grant eligibility. In May, Kaine also reintroduced the Assisting Community Colleges in Educating Skilled Students (ACCESS) to Careers Act to boost student success and career readiness. 

YouthBuild is a pre-apprenticeship program that provides education and work training opportunities for vulnerable youth ages 16-24 who dropped out of high school. As part of the program, these young Americans will split time between job training and the classroom, where they earn high school diplomas or equivalency degrees and prepare for postsecondary training opportunities. This national program serves more than 6,000 youth annually in more than 40 states. 

The funding will be distributed as follows: 

Recipient

City

Amount

New River-Mount Rogers Workforce Investment Area Consortium

Radford

$1,500,000

Goodwill Industries of the Valleys

Roanoke

$1,199,000

Total:

$2,699,000

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WASHINGTON – Today, U.S. Mark R. Warner (D-VA) joined Sens. Sherrod Brown (D-OH) and Rob Portman (R-OH) in urging the U.S. International Trade Commission (ITC) to side with American workers and fully and fairly enforce U.S. trade remedy laws. In a bipartisan letter to the ITC, Warner, Brown, and Portman led their colleagues in pressing the ITC to give full and fair consideration to the United Steelworker’s petitions in these cases of unfairly traded imports. Warner, Brown, and Portman led this letter with Sens. Richard Burr (R-NC), Kirsten Gillibrand (D-NY), Todd Young (R-IN), Charles E. Schumer (D-NY), Mike Braun (R-IN), Tim Kaine (D-VA), John Boozman (R-AR), and Raphael Warnock (D-GA).

“U.S. trade remedy laws are intended to provide relief to U.S. companies and their workers when they are undermined by unfairly traded imports.  We urge you to give full and fair consideration to the USW petitions in these cases and to ensure U.S. trade remedy laws are fully enforced,” the Senators wrote.

For years, United Steelworkers at tire companies including Cooper Tire in Findlay, Ohio, have found themselves at a severe competitive disadvantage due to unfairly traded foreign imports. The United Steelworkers’ trade petitions seeks to secure relief for their members in the tire industry to ensure the U.S. tire industry can compete on a level playing field.  

Full text of the letter is available here and below: 

The Honorable Jason Kearns

Chairman

United States International Trade Commission

500 E Street, SW

Washington, D.C. 20436

Dear Chairman Kearns:

We write on behalf of U.S. passenger vehicle and lightweight tire (PVLT) manufacturers and their workers who face ongoing challenges from unfairly traded tire imports in the above referenced cases and to reiterate our support for strong enforcement of U.S. trade remedy laws.  

The U.S. tire industry has been marked by unfair trade from foreign competitors for years.  In 2009, President Obama imposed Section 421 tariffs on Chinese tire imports to address the systemic dumping of tires in the U.S. market.  After the tariffs expired, USW tire-producing members again faced unfair competition, and the union filed antidumping (AD) and countervailing duty petitions in 2014.  AD and CVD orders have been in place on certain Chinese PVLT imports since.  Unfortunately, other foreign competitors are employing unfair practices to gain market share in the U.S. while Chinese tire imports face additional duties.  As a result, the USW union recently filed the AD and CVD petitions against tire producers in Korea, Taiwan, Thailand, and Vietnam.

U.S. trade remedy laws are intended to provide relief to U.S. companies and their workers when they are undermined by unfairly traded imports.  We urge you to give full and fair consideration to the USW petitions in these cases and to ensure U.S. trade remedy laws are fully enforced.  

Sincerely, 

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WASHINGTON – With more and more businesses rooted in service and intellectual property, U.S. Sen. Mark R. Warner (D-VA) and U.S. Rep. Cindy Axne (D-IA) reintroduced legislation today to require public companies to disclose crucial workforce management metrics, including investments made in skills training, workforce safety, and employee retention. 

“In our information-based economy, workers are easily one of the most valuable assets that a company can have. However, there continues to be too much variability among public companies when it comes to disclosing human capital metrics,” said Sen. Warner. “This legislation will help provide a clearer picture of how public companies are managing, supporting, and investing in their workers – factors that significantly influence a company’s ability to innovate and compete.”

“Over the past century, we’ve seen businesses become less reliant on physical assets and more reliant on their workers, but the public disclosures we ask of our businesses don’t cover the investments they’re making in their employees,” said Rep. Axne. “We expect our public companies to disclose their holdings and their balance sheets – but in an economy that needs people in order to be productive, we must keep that same transparency to make the U.S. a leader in helping investors understand the long-term prospects of the companies they’re investing in. The COVID-19 pandemic has only emphasized how important this information is, especially when it comes to workplace health and safety or the ability to work from home.”

In 1975, more than 80 percent of the S&P 500’s market value was in companies’ tangible assets, such as real estate holdings or purchased equipment. By 2015, tangible assets accounted for less than 20 percent.

The Workforce Investment Disclosure Act would require public companies to disclose basic human capital metrics, which have an increasingly high value across industries in our 21st century economy. These metrics include workforce turnover rates, skills and development training, workforce health and safety, workforce engagement, and compensation statistics. This legislation would build on existing disclosure requirements, which do not currently provide sufficient information for potential workers and investors looking to evaluate modern businesses. 

“This bill takes disclosure on every company’s most valuable asset, People, out of the shadows and into the light. Every public and private company should be sharing these metrics in their public disclosures.” Jeff Higgins, founder and CEO of Human Capital Management Institute. 

"We know that human health, safety, and well-being are material to businesses’ bottom line, and human-centered policy interventions are critical to improving employee health, engagement and productivity,” said Rachel Hodgdon, President and CEO of the International WELL Building Institute. “We commend Representative Axne and Senator Warner for their continued leadership and introduction of the Workforce Investment Disclosure Act. This bill, which takes a significant step forward on driving transparency and incentivizing investment in the workforce, will help ensure businesses prioritize the overall welfare of their most valuable asset - their people. By simply compelling businesses to report on their workforce management policies, we can accelerate better corporate practices, recognize market leaders and spur powerful investments in the health, safety and equity of employees around the country."

Gary Gensler, the new Chair of the SEC, recently said that updating disclosure rules on workforce metrics would be an “early focus” and a “top priority” of his tenure. Both Chairman Gensler and his predecessor, Chairman Jay Clayton, have affirmed the need for more information about companies’ human capital. 

The bill has the support of the California State Teachers Retirement System (CalSTRS) and the National Employment Law Project. Additionally, notable investment and asset management firms already support updating these disclosure requirements.

In 2019, leadership of major investors BlackRock and State Street Global Advisory both emphasized the importance of human capital — and have indicated the need to create standardized reporting. In addition, research from the Embankment Project on Inclusive Capitalism, a partnership between asset managers directing $30 trillion and large public corporations, found U.S. companies that disclose their total human capital costs outperform those that do not.

Sen. Warner, a former entrepreneur and venture capitalist, has long stressed the importance of updating human capital disclosure requirements to reflect the priorities of modern companies. In a May 2020 letter to the U.S. Securities and Exchange Commission (SEC), Sen. Warner and Rep. Axne urged the SEC to require that human capital management information be made publicly available in a timely and accurate manner to help determine whether a company will be successfully able to weather risks following the COVID-19 crisis. 

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WASHINGTON – U.S. Sen. Mark R. Warner (D-VA), a member of the Senate Finance and Banking Committees, along with Sens. Debbie Stabenow (D-MI) and Bob Casey (D-PA) reintroduced legislation to promote workers’ long-term economic success and support U.S. economic recovery efforts amid the COVID-19 pandemic. The Investing in American Workers Act of 2021 prioritizes workers in U.S. recovery efforts by creating a tax credit to incentivize employers to invest in training tied to recognized postsecondary credentials for lower- and moderate-income workers

Companion legislation has been introduced in the House of Representatives by Rep. Raja Krishnamoorthi (D-IL), Rep. Jeff Van Drew (R-NJ), Rep. Abigail Spanberger (D-VA), Rep. Dan Meuser (R-PA), Rep. Cindy Axne (D-IA), Rep. Susan Wild (D-PA), and Rep. Tom Emmer (R-MN).

“As too many families know, the COVID-19 crisis has taken a major toll on the American workforce, pushing millions of workers into unemployment and decimating jobs that, frankly, may never come back. That’s why we need companies – especially those that employ a lot of low-wage workers – to be equal partners in the recovery effort by stepping in and offering training opportunities that grow workers’ skills for years to come,” said Sen. Warner. “We’re introducing a bill that builds upon the success of the R&D tax credit model and gives companies an incentive to invest in people, like they do R&D, to give more workers a chance to succeed during and after COVID-19.”

“In Michigan, our workers are the best in the world and investing in them is the right thing to do. Our bipartisan bill does just that by supporting employers who offer training opportunities that grow workers’ skills for years to come,” said Sen. Stabenow.

“Today’s fast-paced economy demands regular training for our workforce to keep our economy competitive, yet the percentage of American workers receiving employer-sponsored and on-the-job training has decreased dramatically in recent decades,” said Rep. Krishnamoorthi. “The Investing In American Workers Act will ensure our workers are able to develop the in-demand skills they need to build rewarding careers while helping American companies grow and thrive.”

The success of our nation’s economic recovery depends on the success of our workforce. But in Central Virginia and across the country, many working families continue to experience significant hardships due to the COVID-19 crisis — and many workers cannot independently afford the skills and training they need to access new opportunities, secure better-paying jobs, and gain peace of mind. In this climate, we need to celebrate and reward companies that make an effort to take care of their employees,” said Rep. Spanberger. “By providing tax incentives for American companies to invest in American workers, the Investing in American Workers Act is commonsense, bipartisan legislation that would recognize in-house workforce training as a key component of our country’s rebound. I’d like to thank my fellow Virginian Senator Warner for his leadership on this issue, and I look forward to working with my colleagues in the House and Senate to move this legislation forward.”

“Business owners know their employees’ success is their success and they are committed to helping their employees improve their skills to advance and grow in their career. The Investing in American Workers Act helps employers invest in job training, apprenticeships, and continuing education by providing a tax credit for training expenses driving more investment to close the skills gap, advance careers, and ultimately grow the small businesses that drive our economy,” said Rep. Meuser. 

“A four-year college degree isn’t the only pathway to prosperity, nor is it the only way to acquire the skills needed to be successful. When a company invests in high-quality skills and workforce training programs for their employees, both the company and the worker succeed,” said Rep. Axne. “I’m proud to join my colleagues in introducing the Investing in American Workers Act to encourage companies to get their workers the skills they need to thrive in the modern economy.”

“Now is the time to invest in our workforce and incentivize job training, especially for lower and middle-income workers, ” said Rep. Wild. “The Investing in American Workers Act of 2021 does just that and builds off a proven model of success to create the dynamic workforce our modern economy requires while bringing in valuable industry partners along the way. The pandemic and subsequent economic crisis has devastated families across Pennsylvania, and I’m proud to support this effort to get more Americans back to work in the good-paying jobs of the future.”

“A four-year college degree should not, and cannot, be the only path to a successful career or financial security. This bipartisan legislation will promote apprenticeships and build a stronger American workforce. Although our nation continues to face a skills-gap, on-the-job educational and technical training opportunities will help us bridge the divide while giving Americans opportunities to advance their careers. I am proud to join Rep. Krishnamoorthi in this effort to ensure Americans have access to good-paying jobs when they need it more than ever,” said Rep. Emmer.

Right now, many companies have almost no direct financial incentive to invest in their workers. In fact, the current U.S. tax code offers a Research and Development (R&D) tax credit for employers that make long-term investments in innovation – such as computers, buildings, and machines – but not workers. In order to ensure the nation’s workforce is better prepared for a post-pandemic 21st century economy, tax and accounting systems need to be updated to promote these same kinds of investments in workforce training. 

The Investing in American Workers Act of 2021 would make it easier for companies to invest in training their workers by:

·       Establishing a tax credit for employers who increase their spending on worker training:

o   Employers who spend more on training their workers in a given year than they have on average in the previous three years are eligible to receive a tax credit based on their increase in spending.

o   The amount of the credit is equal to 20 percent of the increased spending. The spending eligible for the credit must be used to provide qualified training to employees earning $82,000 or less per year. 

o   For employers who are new to spending on qualified training or have a gap in any of the past three taxable years, the credit is calculated as 10 percent of the qualified training expenditures for the current year, multiplied by a cost-of-living adjustment factor. Requires collecting and reporting of racial, ethnic, and gender demographics.

·       Incentivizing high-quality training by detailing allowable providers and programs:

o   Qualified training may be provided through a nationally or state-recognized registered apprenticeship program; a WIOA-certified training program; a program conducted by an area career and technical education school, community college, or labor organization; or a program sponsored or administered by an employer, industry trade association, industry or sector partnership, or labor organization.

o   Qualified training must result in the completion of a recognized postsecondary credential, including an industry-recognized certificate or certification, a certificate of completion of an apprenticeship, a license recognized by the State or Federal Government, or an associate or bachelor’s degree.

·       Pursuing clarity on the statutory definition of recognized postsecondary credential:

o   Requires the Secretary of Labor, in consultation with the Secretary of the Treasury, to issue regulations or guidance on the definition of “recognized postsecondary credential” within one year.

·       Encouraging small businesses to upskill their workers by providing a simplified filing process and allowing them to apply the credit against payroll and alternative minimum taxes:

o   Qualified small businesses making less than $5,000,000 for at least six years in a row, as well as qualified tax-exempt entities, can elect to apply up to $250,000 of the credit against payroll taxes.

“The world of work is changing at a rapid pace and Workday believes a focus on skills is essential to providing workers and employers the agility they need to navigate these changes. We appreciate the reintroduction of the Investing in American Workers Act, helping support the workers who need it most with access to reskilling and providing employers with even more incentive to invest in their most valuable asset: their people,” said Rich Sauer, Workday Chief Legal Officer and Head of Corporate Affairs.

“U.S. businesses – including small and medium sized employers – are investing every day in the skills of their workforce, helping their employees advance their careers and creating new job opportunities in our communities. But today’s tax code doesn’t adequately reward those companies that are willing to make these critical investments, making it harder for businesses to compete in a global economy,” said Katie Spiker, Director of Government Affairs for the National Skills Coalition. “Sen. Warner’s and Rep. Krishnamoorthi’s legislation is an important step in the right direction, and will help expand high quality training that leads to better results for companies and workers alike. We look forward to working with Senator Warner and Rep. Krishnamoorthi to advance this legislation and we applaud his leadership and vision on this vital issue.”

Sen. Warner has been an outspoken advocate of investing in workers and ensuring they are adequately equipped to participate in the 21st century labor force. Earlier this year, Sen. Warner released the first two parts of his 3-part white paper series on the future of American capitalism, which focuses on what the U.S. will need to do to address the chronic under-investment in workers and create an inclusive 21st century economy that does not leave workers behind. Part one of the white paper is available here. Part two is available here.

Bill text is available here. A summary of the bill is available here.

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