Workplace & Job Creation

Jobs for Main Street Act of 2009

hmoroz — Thu, 17 Dec 2009 12:55:34 -0500

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Number of workers who will run out of unemployment insurance by January if unemployment benefits are not extended: 1 million

Number who will run out by March: 3 million

Economic activity generated by each $1 of cuts to taxes on labor when interest rates are zero: -$0.81

Economic activity generated by each $1 of government spending when interest rates are zero: $2.27

Average monthly COBRA premium with the current government subsidy: $389

Average monthly COBRA premium without the current government subsidy: $1,111

Overview/Summary

Middle Class Position Analysis

Middle Class Supports. While the American Recovery and Reinvestment Act stimulated economic growth and created between 600,000 and 1.2 million additional jobs, the employment situation remains grim. The unemployment rate stands at an extraordinary 10.0 percent and more than 15 million people are jobless. There are six job openings for every worker who wants a job, while almost 40 percent of the unemployed have been jobless for longer than 26 weeks. In short, the stimulus package was necessary, but insufficient. Further, several of the most important provisions in the stimulus package, including extended unemployment benefits and health insurance assistance for the unemployed, are set to expire before the employment outlook has improved.

The Jobs for Main Street Act expands assistance for the aspiring middle-class and middle class Americans affected most by the economic downturn while allocating additional funds that can create and save jobs quickly. Without the Act’s extension of unemployment insurance, 1 million workers will run out of unemployment insurance in January and 3 million will run out by the first quarter of the year. Unemployed families relying on subsidized COBRA insurance could see their premiums skyrocket from $389 a month to $1,111 per month. Further, workers who lose their jobs in 2010 would receive no help with their COBRA premiums. Extending these invaluable programs would not only continue to assist cash-strapped middle-class families, but would help ensure that these households can continue to support the economy by spending on everyday necessities.

Additional spending included in the Jobs for Main Street Act will create jobs and further stimulate the economy. Recent research by the Federal Reserve Bank of New York demonstrates that government spending at this time will result in well over $2 in economic activity for every dollar spent, although new tax cuts would in fact shrink the economy. Aid to states for infrastructure projects, education, and public safety will create and maintain employment and preserve important services. These funds will prevent cash-strapped states from cutting public services at a time Americans most need them and will encourage additional public sector hiring. Indeed, funding for education in the original stimulus package similar to that included in the Jobs for Main Street Act created or saved more than 300,000 jobs. The maintenance of the increased federal share of Medicaid payments will serve a similar function in addition to preventing reductions in health care for low-income children and adults. The Jobs for Main Street Act invests significant resources in areas that can generate both economic activity and jobs for middle-class Americans.

Quotes from Experts

Beyond this Bill

Additional Resources

“Unemployment Insurance,” from the National Employment Law Project

“Unemployment Insurance Benefits: Where Do We Go From Here?” from the Senate Finance Committee

Testimony of LaDonna Pavetti of the Center on Budget and Policy Priorities on the Impact of the Recession and the Recovery Act on Social Safety Net Programs, before the House Budget Committee

Emergency Influenza Containment Act of 2009

hmoroz — Tue, 10 Nov 2009 10:36:33 -0500

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Quotes from Experts

Beyond this Bill

Additional Resources

Protecting America’s Workers Act of 2009

hmoroz — Mon, 26 Oct 2009 10:56:38 -0400

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Quotes from Experts

Beyond this Bill

Additional Resources

Unemployment Compensation Extension Act of 2009

hmoroz — Thu, 22 Oct 2009 17:27:18 -0400

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Number of Americans unemployed for six months or more: 5.4 million

Percentage of unemployed workers who cannot find jobs within receiving their first six months of unemployment benefits: 50.7

Number of unemployed workers who will exhaust their unemployment insurance benefits by the end of 2009: 1.3 million

Average number of unemployed workers losing their unemployment insurance benefits each day in the absence of an extension of benefits: 7,000

Number of jobless workers for every job opening in the United States at the beginning of the recession: 1.7

Number of jobless workers for every job opening in the United States at present: 6

Overview/Summary

Middle Class Position Analysis

Middle Class Supports. While economists see signs of economic recovery, 15.1 million unemployed Americans still cannot find work. The unemployment rate continues to rise and now stands at 9.8%. Recent extensions of the duration of unemployment benefits have been necessary but insufficient: 400,000 unemployed workers exhausted their benefits at the end of September, a number that will increase to a devastating 1.3 million by the end of the year. Middle-class Americans thrown out of work cannot be allowed to lose their unemployment lifeline at a time when there are six workers for every available job.

The Unemployment Compensation Extension Act would ease the financial pain associated with long-term unemployment. Unemployment benefits provide direct assistance to the current and aspiring middle-class Americans likely to be hardest hit during the economic downturn, people who want to work but have lost their means of support through no fault of their own. With extended benefits, many families can stay in their homes, keep the lights on, and put food on the table. Unlike the House version of the legislation, the bill would protect all workers from running out of benefits while providing additional protection to the most vulnerable in the worst-hit states- places like Michigan.

In addition to the benefit to individual households, unemployment insurance provides significant economic stimulus. The unemployed tend to spend all of their benefits and quickly, providing an important economic jolt. Allowing unemployment benefits to expire for hundreds of thousands of families would undermine the successes of the American Recovery and Reinvestment Act and slow the nation’s economic recovery.

In contrast, extending the tax credit for first-time homebuyers and, particularly, expanding the credit to wealthier households and to current homeowners would do little to stimulate additional economic activity. The credit, included in the American Recovery and Reinvestment Act, has primarily benefited households which would have purchased a home even without the tax benefit. This means that the credit is poorly targeted and an inefficient use of government funds at a time of increasing concern about budget deficits. It also continues the federal government’s subsidization of homeownership, which helped cause the housing crisis. The carryback loss provision is a also a poorly targeted provision, receiving a “C” in the nonpartisan Tax Policy Center’s analysis of the stimulative effect of tax measures. Aid to state and local governments, along with legislation that targets aid to those suffering most from the economic downturn, would be a much more efficient use of federal funds.

Quotes from Experts

Beyond this Bill

Additional Resources

“Unemployment Insurance Benefits: Where Do We Go From Here?” from the Senate Finance Committee

“Unemployment Insurance,” from the National Employment Law Project

“Harsh Labor Market Conditions Justify Extending Unemployment Benefits In Hard-Hit States,” from the Center on Budget and Policy Priorities

Clean Energy Jobs and American Power Act of 2009

hmoroz — Tue, 13 Oct 2009 17:05:07 -0400

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Quotes from Experts

Beyond this Bill

Additional Resources

Unemployment Compensation Extension Act of 2009 - House Version

hmoroz — Wed, 23 Sep 2009 15:27:49 -0400

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Number of Americans unemployed for six months or more: 5 million

Percentage of unemployed workers who cannot find jobs within receiving their first six months of unemployment benefits: 50.7

Number of unemployed workers who will exhaust their unemployment insurance benefits by the end of 2009: 1.3 million

Percentage of these who will be eligible for the extended benefits provided by the legislation: 81.3

Number of jobless workers for every job opening in the United States at the beginning of the recession: 1.7

Number of jobless workers for every job opening in the United States at present: 6

Overview/Summary

Middle Class Position Analysis

Middle Class Supports. While economists see signs of economic recovery, 14.9 million unemployed Americans still cannot find work. The unemployment rate continues to rise and now stands at 9.7%, keeping middle-class Americans at risk of being thrown out of work as a result of the economic downturn. According to the National Employment Law Project, 5 million Americans have been unemployed for six months or longer and half of the unemployed cannot find jobs within the first six months of receiving unemployment insurance benefits. There are 6 jobless workers for every job opening. Recent extensions of the duration of unemployment benefits have been necessary but insufficient: 400,000 unemployed workers will have exhausted their benefits by the end of September, a number that will increase to a devastating 1.3 million by the end of the year.

The Unemployment Compensation Extension Act would ease the financial pain associated with long-term unemployment. Unemployment benefits provide direct assistance to the current and aspiring middle-class Americans likely to be hardest hit during the economic downturn, people who want to work but have lost their means of support through no fault of their own. The legislation would ensure that the jobless in the worst-hit states – places like Michigan that has an unemployment rate of 15.2 percent – would avoid losing unemployment insurance at a time when finding a job is extremely difficult. The bill would prevent approximately 300,000 unemployed Americans in 27 states from losing their unemployment benefits. Though workers in all states are exhausting their benefits and more comprehensive legislation would assist them all, more than 80 percent of workers who will exhaust their benefits by the end of the year will be eligible for the extended benefit.

Quotes from Experts

Beyond this Bill

Additional Resources

“Unemployment Insurance Benefits: Where Do We Go From Here?” from the Senate Finance Committee

“Unemployment Insurance,” from the National Employment Law Project

“Harsh Labor Market Conditions Justify Extending Unemployment Benefits In Hard-Hit States,” from the Center on Budget and Policy Priorities

Trade Reform, Accountability, Development, and Employment Act of 2009

hmoroz — Mon, 03 Aug 2009 10:52:31 -0400

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Quotes from Experts

Beyond this Bill

Additional Resources

Amendment to Raise the Minimum Wage of 2006

hmoroz — Mon, 27 Jul 2009 14:41:44 -0400

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Number of American workers who would receive a direct wage increase as a result of this legislation: 7.3 million

Estimated number of additional workers who would see their wages pushed up by the “spillover effects” of a minimum wage increase: 8.2 million

Percentage of Americans who believe raising the minimum wage is an important priority for the country: 82

Percentage growth in the number of small businesses between 1998 and 2001 in states with a minimum wage identical to the federal level: 1.6

Percentage growth in the number of small businesses between 1998 and 2001 in states with a minimum wage higher than the federal level: 3.1

Percentage decline in the inflation-adjusted value of the minimum wage since 1979: 26

Overview/Summary

Middle Class Position Analysis

The Middle Class Supports. At less than $11,000 a year for a full-time worker, the federal minimum wage is a poverty wage. It is a rate at which it is impossible for working Americans to independently pay their rent, feed their families or get needed medical care—much less save for the types of investments that make it possible to work one’s way into the middle class, like an education, a first home or the chance to start a business.

Contrary to the stereotype of the minimum wage worker as a teenager with nothing to purchase but junk food and movie tickets, the typical minimum wage worker is an adult providing more than half of his or her family’s total earnings. According to the Economic Policy Institute, nearly half of families with a worker who would benefit from a minimum wage increase rely on that worker’s pay as the family’s only source of earnings. As numerous states have raised their minimum wages above the federal rate, economists have also had more opportunities to study the effects of minimum wage increases, concluding that raising the minimum wage does not lead to the loss of jobs as critics had threatened.

Quotes from Experts

Beyond this Bill

Additional Resources

“Nine Years of Neglect: Federal Minimum Wage Remains Unchanged for Ninth Straight Year,” from the Economic Policy Institute

“States with Minimum Wages above the Federal Level Have Had Faster Small Business and Retail Job Growth,” from the Fiscal Policy Institute

Vote To Raise the Minimum Wage without Cutting Estate Taxes of 2006

hmoroz — Mon, 27 Jul 2009 12:15:12 -0400

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Number of workers who would benefit from the minimum wage increase included in the Estate Tax and Extension of Tax Relief Act: 5.6 million

Approximate number of estates the estate tax reduction would benefit: 8,200

Percentage increase in the cost-of-living since September 1997: 26

Percentage increase in the federal minimum wage since September 1997: 0

Top estate tax rate and maximum exemption in 2001, respectively: 60%, $675,000

Top estate tax rate and maximum exemption in 2015 under the Estate Tax and Extension of Tax Relief Act: 30%, $5 million

Overview/Summary

Middle Class Position Analysis

The Middle-Class Supports. At less than $11,000 a year for a full-time worker, the federal minimum wage is a poverty wage. It is a rate at which it is impossible for working Americans to independently pay their rent, feed their families or get needed medical care—much less save for the types of investments that make it possible to work one’s way into the middle class, like an education, a secure home or the chance to start a business.

Contrary to the stereotype of the minimum wage worker as a teenager with nothing to purchase but junk food and movie tickets, the typical minimum wage worker is an adult providing more than half of his or her family’s total earnings. According to the Economic Policy Institute, half of families with a minimum wage worker rely on his or her pay as the family’s only source of earnings. As many states have raised their minimum wages above the federal rate, economists have also had more opportunities to study the effects of minimum wage increases, concluding that raising the minimum wage does not lead to the loss of jobs.

In contrast, the estate tax provisions which this vote aimed to remove from the bill will only benefit the wealthiest taxpayers. The estate tax is the most progressive component of the federal tax code and applies only to Americans lucky enough to inherit substantial fortunes. By taxing inherited wealth, the tax preserves the American tradition of rewarding hard work, not inherited privilege and wealth. According to the nonpartisan Congressional Budget Office, the estate tax provisions would cost approximately $267.6 billion between 2007 and 2016. This significant reduction would adversely affect aspiring middle-class and middle-class Americans by burdening them with more of the cost of public services while allowing accumulated wealth to be passed on for generations. Those who work for their money would be forced either to pick up a bigger share of the tax bill or to suffer cuts in services essential to middle-class families and communities.

Roll Call Vote 424 would strip the provisions that are detrimental to middle-class households from the legislation, while preserving the minimum wage increases that are critical to expanding the ranks of the middle class.

Quotes from Experts

Beyond this Bill

Additional Resources

“Nine Years of Neglect: Federal Minimum Wage Remains Unchanged for Ninth Straight Year,” from the Economic Policy Institute

“States with Minimum Wages above the Federal Level Have Had Faster Small Business and Retail Job Growth,” from the Fiscal Policy Institute

“Tax Topics: Estate and Gift Taxes,” from the Tax Policy Center

United States-Oman Free Trade Agreement Implementation Act of 2006

hmoroz — Mon, 27 Jul 2009 11:53:35 -0400

Legislation

The middle class

Opposes

Video Summary

Injustice Facts

Date on which President Bush boasted that the Oman trade deal would “provide additional market access for U.S. goods”: 9/19/2006

Estimated Gross Domestic Product of Oman in 2006: $44.53 billion

Estimated Gross Metropolitan Product of the Memphis, TN area in 2005: $56.69 billion

Date on which the current Omani head of state, Sultan Qaboos bin Said al-Said first assumed office: 7/23/1970

Estimated percentage of increased inequality of earnings in the U.S. in 2006 attributable to trade policy: 7

Minimum annual loss this represents to the typical married couple household in the U.S.: $2,000

Approximate proportion of U.S. workers whose jobs are potential targets for off-shoring if present trade policies continue over the next two decades: 1 in 4

Overview/Summary

Middle Class Position Analysis

The Middle Class Opposes. Increased international trade can contribute to economic growth, but the way trade rules are formulated in agreements like this means that the benefits of trade are distributed unevenly, ultimately undermining the middle class and aspiring middle class in both the U.S. and the nations it trades with. A central problem is that the Oman trade agreement empowers businesses and investment capital to cross international borders more easily, providing a decisive advantage over working people who are not so internationally mobile and whose rights are not well protected in Oman. Despite recent reforms to the Omani labor code, independent unions are still banned. There are also concerns about human trafficking and involuntary servitude among the more than half a million guestworkers from nations including India, Bangladesh, and the Philippines who make up the bulk of the Omani workforce. This imbalance of power creates incentives to move U.S. jobs overseas and puts downward pressure on the wages of American workers as they are placed in more direct competition with poorly-paid, disempowered Omani workers.

Quotes from Experts

Beyond this Bill

Additional Resources

“Final Text of the United States-Oman Free Trade Agreement," from the Office of the United States Trade Representative

“U.S.-Oman Free Trade Agreement,” from the Citizens Trade Campaign

“U.S.-Oman FTA,” from Public Citizen’s Global Trade Watch

Workplace & Job Creation

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Legislation

The middle class

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Injustice Facts

Overview/Summary

Middle Class Position Analysis

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Emergency Influenza Containment Act of 2009

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The middle class

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Injustice Facts

Overview/Summary

Middle Class Position Analysis

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Legislation

The middle class

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The middle class

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Middle Class Position Analysis

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Beyond this Bill

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The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

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Beyond this Bill

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Additional Resources

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Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Related Blog: Header

Quotes from Experts

Related Blog: Text

Beyond this Bill

Related Blog: Link

Additional Resources

Trade Reform, Accountability, Development, and Employment Act of 2009