Political Quotes

“Mr. President, today I am introducing the Layoff Prevention Act. This bill would extend the financing and grant provisions for work sharing that I authored and worked to include in the Middle Class Tax Relief and Job Creation Act of 2012, and, most recently, the Coronavirus Aid, Relief, and Economic Security Act. The concept of work sharing is simple. It helps people who are currently employed--but in danger of being laid off--to keep their jobs. By giving struggling companies the flexibility to reduce hours instead of their workforce, work sharing programs prevent layoffs and help employers save money on rehiring costs. Employees who participate in work sharing keep their jobs and receive a portion of Unemployment Insurance benefits to make up for lost wages. This prevents layoffs, saves employers rehiring costs, and costs states only a fraction of what it would if workers went on unemployment full-time. Financing for work sharing programs was included in the CARES Act and extended through March 14, 2021 in the most recent COVID-19 relief legislation enacted in December. The legislation I am introducing today would build upon what is currently in law, by enacting a five-year extension of financing for permanent work sharing programs, and a two- year extension for temporary programs. This revised Layoff Prevention Act will also double funding to support states that are implementing work sharing programs, from $100 million, as provided in the CARES Act, to $200 million.…”