Thursday, November 17, 2005
Press Release: American workers lose big in GOP budget
*** FOR IMMEDIATE RELEASE **
American Workers Lose Big in GOP Budget
From the Office of Steny Hoyer (D - MD)
The GOP budget has devastating implications for American industry and is an assault on American workers. It binds the hands of industry by making it less competitive on the global market and jeopardizes our future prosperity and economic security. It will drastically reduce employment and drive down wages, denying opportunities for hard working Americans to secure the future of their children.
Specifically, the GOP budget proposal eliminates funding for the Trade Adjustment Assistance (TAA) Program which provides income-replacement benefits, training, and related services to workers who lose their jobs as a result of import competition or a shift in production to another country. The U.S. Department of Labor reports that for the quarter ending June 30, 2005, 66% of TAA customers were able to find jobs, an increase of three percentage points over the same quarter last year. TAA customers replaced 75% of their previous earnings, compared to 72% in the quarter ending June 30, 2004. 91% of the people helped by the TAA program retained the jobs they found, an increase of two percentage points over the same interval.
According to a study done by the Institute of Industrial Relations at UC Berkeley, as many as 14 million Americans hold jobs at risk of being outsourced. By eliminating the TAA program, house Republicans are removing a vital and effective safety net program designed to support the transition of displaced workers into other career opportunities at a time when American jobs are most vulnerable. The Democratic budget proposal not only preserves funding for the TAA program, but also ensures that federal workers receive the cost-of-living adjustments and retirement benefits they deserve.
American Workers Lose Big in GOP Budget
From the Office of Steny Hoyer (D - MD)
The GOP budget has devastating implications for American industry and is an assault on American workers. It binds the hands of industry by making it less competitive on the global market and jeopardizes our future prosperity and economic security. It will drastically reduce employment and drive down wages, denying opportunities for hard working Americans to secure the future of their children.
Specifically, the GOP budget proposal eliminates funding for the Trade Adjustment Assistance (TAA) Program which provides income-replacement benefits, training, and related services to workers who lose their jobs as a result of import competition or a shift in production to another country. The U.S. Department of Labor reports that for the quarter ending June 30, 2005, 66% of TAA customers were able to find jobs, an increase of three percentage points over the same quarter last year. TAA customers replaced 75% of their previous earnings, compared to 72% in the quarter ending June 30, 2004. 91% of the people helped by the TAA program retained the jobs they found, an increase of two percentage points over the same interval.
According to a study done by the Institute of Industrial Relations at UC Berkeley, as many as 14 million Americans hold jobs at risk of being outsourced. By eliminating the TAA program, house Republicans are removing a vital and effective safety net program designed to support the transition of displaced workers into other career opportunities at a time when American jobs are most vulnerable. The Democratic budget proposal not only preserves funding for the TAA program, but also ensures that federal workers receive the cost-of-living adjustments and retirement benefits they deserve.
posted by Leslie H # 4:49 PM 
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The House GOP budget effectively balances competing interests. Can the same be said about the Dem's 93 budgets?
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: 5:24 PM
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