CEOs Urge Congress to Create Bipartisan Commission to Ease
American Worker Anxiety Over the New International Economy
WASHINGTON--(Business Wire)--Stating that more must be done to help American workers who feel
unprepared for today's rapidly changing employment landscape, Business
Roundtable today is calling for a new framework to support workers'
transitions. The Roundtable envisions two steps to ease this worker
anxiety and maintain American competitiveness in the rapidly-changing
international economy.
First, the new effort, AMERICA 21, would consolidate access for
all training, assistance, and education programs for workers by
providing a one-click, easy to use, consumer friendly program.
Business Roundtable, an association of 160 chief executives of leading
U.S. companies, urged Congress to appoint a high-level commission to
design and fund the initiative.
Second, CEO members requested that lawmakers review the over $5
billion that is currently spent on support programs to meet the
requirements of the 21st Century.
Harold McGraw III, chairman, president and CEO of The McGraw-Hill
Companies and chairman of Business Roundtable said, "American
taxpayers currently spend billions of dollars on worker training and
adjustment assistance, but this money must be better spent if the
country is to maintain its leadership position in the global economy.
We must take immediate action to help American workers acquire the
knowledge, skills and support they need to move fluidly from job to
job."
To that end, Roundtable member CEOs call on Congress to
immediately create a bipartisan National Commission on Workforce
Competitiveness to develop the design and funding mechanisms for
AMERICA 21.
"The global economy is creating not only unprecedented challenges
but also expanded economic opportunity for American citizens,
communities and companies. Rapid advancements in technology,
escalating energy demands, and other social and political pressures
require us to consider fresh, innovative, bipartisan solutions,"
continued Mr. McGraw. "Our member companies are committed to
empowering American workers to develop and maintain the critical
skills necessary to compete and succeed."
While many Business Roundtable companies provide excellent
education, training and transition benefits, a new approach that can
be accessed by all American workers is necessary. In today's economy,
it makes little sense to focus training opportunities on U.S. workers
after they lose a job as they will need to continually upgrade their
education and skills.
AMERICA 21 would promote lifelong learning by providing access to
ongoing education and skills training. This new streamlined and
modernized initiative would also provide assistance with health
coverage and other costs in the event of job loss.
"American taxpayers spend more than $5 billion on a myriad of
disparate programs aimed at assisting displaced workers. AMERICA 21
would channel these resources - and more, if needed, - into a
streamlined effort, leveraging and building on today's best practices.
Simplicity, quality, ease of access, portability and public-private
partnerships are the key factors for this initiative's success in the
minds of our member companies," said John J. Castellani, president of
Business Roundtable.
In developing the details to implement AMERICA 21, Business
Roundtable recommends the commission consider ideas such as:
-- Portable Tax-Advantaged Fund that empowers employees to manage
their own education and plan for employment transitions;
-- 21st Century "One-Stop Shops" where workers can access current
information about labor market trends, education and skill
requirements, job opportunities, self-assessments, available
federal, state and local assistance and training; and
-- Lifelong Learning Initiatives that support and enhance
community colleges to meet the needs of the labor market and
adult learners.
"The world economy presents an ever-increasing challenge to
America's competitiveness. Business Roundtable companies know all too
well how significantly interdependent our domestic and international
policy decisions impact our operations, and, thus, our ability to
thrive. Through this effort, we are committing to increased private
sector cooperation and leadership," said Mr. McGraw. "Moving to a
comprehensive system requires partnership from business, labor and
government. America's CEOs stand ready to act."
The AMERICA 21 initiative is included in the Roundtable's paper,
"Prospering Together: America's Citizens, Communities and Companies,"
that urges policymakers to address five interrelated domestic and
international policy areas: intellectual capital; health care; energy
and environmental stewardship; international engagement and tax
policy. The paper may be viewed at www.businessroundtable.org.
Business Roundtable (www.businessroundtable.org) is an association
of chief executive officers of leading U.S. companies with $4.5
trillion in annual revenues and nearly 10 million employees. Member
companies comprise nearly a third of the total value of the U.S. stock
markets and represent over 40 percent of all corporate income taxes
paid. Collectively, they returned $112 billion in dividends to
shareholders and the economy in 2005.
Roundtable companies give more than $7 billion a year in combined
charitable contributions, representing nearly 60 percent of total
corporate giving. They are technology innovation leaders, with $90
billion in annual research and development spending - nearly half of
the total private R&D spending in the U.S.
Business Roundtable
Kirk Monroe, 202-496-3269
Copyright Business Wire 2008
