Davis-Schakowsky Amendment Creating the Patriot Employer Credit

Testimony of Congressman Danny K. Davis in Support of

the Davis-Schakowsky Amendment

Creating the Patriot Employer Credit to

Encourage Companies to Invest in American Workers

I am pleased to join with Representative Schakowsky in this amendment that creates the Patriot Employers Tax Credit to encourage companies to invest in American workers. The Patriot Credit equals to 10 percent of the first $15,000 of wages earned by each employee to reward employers that maintain U.S. headquarters, pay workers an hourly wage of $15 per hour, and provide workers with adequate healthcare, retirement, and paid leave options as well as requires employers to cover the difference between regular and military compensation for employees called to active duty in the National Guard and Reserve. This amendment is fiscally responsible in that it offsets any costs associated with promoting corporate responsibility with a minor increase in the corporate tax rate.

Our tax code should work for workers. H.R. 1 subsidizes corporate special interests with generous tax treatment and gives preferential treatment to foreign earnings. Instead, we should reward corporations that invest in America and American workers. This amendment credits businesses for being good actors rather than tax dodgers. It rewards corporations for investing in American jobs and paying fair wages. It rewards corporations for supporting their workers via quality retirement, health, and paid-leave programs. We shouldn’t simply cross our fingers and hope corporations do right by their workers. We should incentivize such responsible behavior.

The Patriot Employer credit encourages companies to put American workers first. It is smart tax policy that promises to grow workers’ paychecks, health, and well-being.