Political Quotes

“Mr. President, today I am joined by Senators Casey, Gillibrand, Hassan, and Whitehouse to introduce the Layoff Prevention Act of 2017. This bill renews and extends Federal support for State short-time compensation--or work sharing--programs, which help avert layoffs and the economic effects of long-term unemployment. Work sharing is a proven concept that is endorsed by economists across the political spectrum. When business slows down, employers feel pressure to lay off employees. Under work sharing, employers may instead opt to reduce hours across-the-board, and employees may then collect a pro-rata unemployment compensation check for the hours they lost. This prevents layoffs, lowers employers' rehiring and training expenses, and costs States only a fraction of what they would pay if workers went on full unemployment. The Middle Class Tax Relief and Job Creation Act of 2012 included my Layoff Prevention Act, which modernized Federal work sharing laws. Partly as a result of this increased Federal support for work sharing, State work sharing programs helped to save over 130,000 jobs between 2012 and the expiration of Federal incentives in 2015. The legislation I am introducing today would renew incentives so that States with existing work sharing programs, and those considering enacting a program, can qualify for Federal support.…”