H.R. 1000, the "Humphrey-Hawkins Full Employment and Training Act"

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H.R. 1000, the “Humphrey-Hawkins Full Employment and Training Act”

 

Since 2000 more than 50,000 manufacturing facilities in the U.S. have closed and roughly 50,000 industrial jobs have been lost each month.  Now service sector jobs, where the remaining two-thirds of all workers are currently employed, are disappearing.  Because of, but not limited to technology advances, these middle-income jobs are not likely to come back, effectively hollowing out the America’s middle class and leaving millions of unemployed and underemployed workers with limited future prospects.  The effect of these trends on American jobs were significantly aggravated by the “Great Recession.”

Meanwhile, in spite of the Great Recession, the wealthiest 1% of Americans has become even richer.  The share of income taken by the top 1% has more than doubled by 2007, U.S. corporations became flush with record profits, and the stock market has rebounded to all-time highs.  All while stagnate wages for the working poor and middle-class remained and, in some cases declined, over the same time period.

During the Great Depression, President Roosevelt’s New Deal put millions of Americans back to work building roads, dams, bridges, parks and electrification systems. 

There is no reason why America cannot have a 21st century “New Deal,” where unemployed Americans can be gainfully employed rebuilding our crumbling infrastructure and strengthening our communities.

It is my hope that with the reintroduction of my bill, the “Humphrey-Hawkins Full Employment and Training Act,” Congress will begin to seriously examine the idea that the federal government can, and must, play a major role in putting Americans back to work.  H.R. 1000 is deficit neutral, because it is paid for by a modest tax on stock and bond transactions by Wall Street trading firms.  Having already received a significant bailout by American taxpayers, it is only fair that Wall Street pay Main Street back by helping put America back to work.

 

Sincerely,

 

John Conyers, Jr.

 

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HR1000 Bill Text296.12 KB
HR1000 Bill Summary141.9 KB

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