SCHAKOWSKY PRESSES SEC. GUTIERREZ TO SUPPORT PATRIOT CORPORATIONS; Says bill would boost Americas competitiveness

Press Release

June 29, 2006

SCHAKOWSKY PRESSES SEC. GUTIERREZ TO SUPPORT PATRIOT CORPORATIONS

WASHINGTON, DC -- U.S. Representatives Jan Schakowsky, a member of the House Energy and Commerce Committee, in hearing before the Committee today announced new legislation that would fight outsourcing and improve the lives of American workers by providing incentives for corporations to invest in the United States and to support their workforce. The Patriot Corporations of America Act would provide tax breaks and preferences in federal contracting for corporations that meet a number of standards, including workplace safety, consumer protection, and environmental standards, providing adequate benefits for their workers, and producing at least 90% of their goods and services in the United States. Schakowsky said that the program was in the spirit of Commerce Secretary Gutierrez's goal of maintaining America's competitiveness in the global economy.

Representative Schakowsky's remarks at today's press conference are below, as prepared for delivery:

As we head into the 4th of July holiday, it is appropriate that our Committee is taking the time to talk about the American economy and American workers. Welcome, Secretary Gutierrez.

Since the adoption of the Declaration of Independence and the birth of our nation, we have benefited from the great work and contributions of countless American patriots and the Congress and the Administration have always undertaken efforts to honor those men and women.

Secretary Gutierrez, in February you told the Government Reform Committee, "the Commerce Department and this Administration are committed to maintaining America's leadership and competitiveness in today's dynamic global economy to raise standards of living and create new American jobs."

I couldn't agree with you more. I also believe that we need to do what we can to encourage corporations that commit to America's economic growth and create jobs for American workers. That is why I, along with members of this Committee, Representatives Sherrod Brown and Solis, introduced the Patriot Corporations of America Act yesterday.

Instead of providing corporations incentives to slash benefits, offshore their finances, and outsource jobs, the Patriot Corporations Act would encourage American corporations to invest in America and American workers.

In exchange for preferential treatment in government contracting and a 5% tax rate reduction, Patriot Corporations would be asked to pledge their allegiance to our country by producing at least 90% of their goods and doing at least 50% of their research and development in the United States. They would limit top managements' compensation to no greater than 100 times that of their lowest-compensated full-time workers. They would show their commitment to their workers by contributing at least 5% of payroll to portable pension funds and by paying for at least 70% of the cost of health insurance plans. Finally, Patriot Corporations would simply be required to comply with existing federal regulations regarding the environment, workplace safety, consumer protections and labor relations, including maintaining neutrality in employee organizing drives.

Secretary Gutierrez, since we are both committed to creating "the conditions for economic growth and opportunity by promoting innovation, entrepreneurship, competitiveness, and stewardship" (that is from your website), I hope that you will join me today by expressing your support for the Patriot Corporations of America Act. I also look forward to hearing from you what the Administration has been doing to promote corporate patriotism.