Introduced by Senators Dick Durbin (D-IL) Barack Obama (D-IL) Sherrod Brown (D-OH) and Representative Jan Schakowsky (D-IL) The Patriot Employer Act of 2007 would provide a tax credit to companies that make a commitment to American workers.
When companies make headlines today it is often for all the wrong reasons: fraud, tax avoidance and profiteering. Americans have had enough with a corporate culture that rewards bad behavior and ignores the well being of workers. It is time for Patriot Employers to be recognized for doing right by their workers even while they do well for their customers and shareholders.
For far too long, our government has betrayed the middle class while giving tax breaks to billionaires and multinational corporations that ship jobs overseas,” Senator Brown said. “Instead we should reward patriot companies that are loyal to workers and advance jobs
Instead of providing incentives for employers to outsource and move their headquarters overseas, we should encourage corporations to be patriot employers that create good jobs with good benefits for American workers. Patriot employers help maintain American competitiveness in the global marketplace, while keeping our workforce and our middle class strong.
The Patriot Corporation Act would reward companies that invest in our nation and its workers. Americans have had enough of businesses offshoring jobs and skirting the law to increase their bottom line. We must stop rewarding outsourcers and tax dodgers, and make corporations earn their tax incentives by investing in America and American workers. Our bill will create a new patriotic corporate ethic in America that unites workers and their employers in the mutual goal of building a stronger, more prosperous democratic business sector to compete in the twenty-first century global economy
The Patriot Employers legislation would provide a tax credit equal to 1% of taxable income to employers that:
William Greider at The Nation:
In the House, a “Patriot Corporation” would get tax breaks and preferences in federal contracting for employers who produce at least 90 percent of their goods and services in the US and with American workers. The companies must invest in research and development domestically, provide adequate health care and pensions and–surprise–comply with federal laws like workplace safety, environmental protection and consumer regulations
The Senate Bill number is S.1945 but the text is not in the congressional record yet.
The House version is H.R.3319.
This is a great first step in setting forth policy that finally is in the national economic interest, although a simple 1% tax break for corporations who do not pay any taxes anyway might be purely symbolic. We need much more policy analysis and legislation to reel in our run amok businesses.
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