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Top Small Business Democrats in Congress Back Clinton’s New Plan

Woman Working Business

The two top Democrats on the House and Senate Small Business Committees both released statements praising Hillary Clinton’s newly released small business plan. Hillary Clinton is proposing a comprehensive, job-creating package of reforms and innovations to make it easier to start, grow and sustain a small business. 

“Supporting small businesses is fundamental to growing the economy and creating good paying jobs,” Senate Small Business Committee Ranking Member Jeanne Shaheen (D-NH) said. “As a former small business owner and the current ranking Democrat on the Senate Small Business Committee, I’m pleased to see Secretary Clinton’s comprehensive plan to strengthen and grow small businesses by simplifying the tax code, providing access to credit and unshackling the next generation of entrepreneurs from student debt. Hillary Clinton’s plan shows she will be a true Small Business President.” 

“Hillary Clinton has been a fighter for all Americans and this extends to Main Street small business owners,” House Small Business Committee Ranking Member Nydia M. Valazquez (D-NY) said. “She knows entrepreneurship is the cornerstone of our economy. Her small business plan will empower more Americans to pursue dreams of launching their own business, while creating good jobs locally and ensuring our nation remains globally competitive. By contrast, Donald Trump has a history in the private sector of repeatedly shortchanging small firms that did work for his company.  The choice in this election could not be clearer: Hillary Clinton has the experience and vision to strengthen our small business sector and boost entrepreneurship.”

The new proposals reflect what Clinton has heard since one of her first events of the campaign at an Iowa bike shop and across nearly 100 visits to small businesses since. Over a year ago, Hillary Clinton pledged that she would be the “small business president” if elected. Small businesses create around two-thirds of all new American jobs.

Clinton’s plans are aimed at making it easier to start, grow and sustain a small business in America. Her proposals will streamline the process of starting a small business; improve access to financing for small businesses; provide tax relief and simplification for small businesses; incentivize more health care benefits for small businesses and their employees; ensure the federal government is more responsive to small businesses; and, make it easier to fight back when small businesses get cheated.

Clinton and Senator Tim Kaine both grew up in small business-owning families. Clinton’s father ran a small drapery business in suburban Chicago where she grew up, and Kaine’s father ran a small ironworking business in Kansas City where he grew up. Kaine will discuss the new plan during a roundtable with small business owners this morning in Lakewood, Colorado, and Clinton will discuss it on a nationwide conference call with small business owners from all across the country this afternoon.

“Watching my father run a small business in Chicago, and working side by side with small business leaders throughout my career, I’ve seen firsthand how small business owners lift up their communities — but I’ve also seen the daily struggles they face. This is why I am putting forward a plan that will make it easier for people to create a business and for existing business owners to grow and hire,” said Hillary Clinton. “Whether it’s our efforts to streamline regulation and cut red tape so existing small businesses can hire more or our plans for new tax incentives that help new small businesses get off the ground, this plan is a comprehensive look at what small businesses need to succeed.  It’s clear that small businesses are the engine of our economy and strengthening them is key to making an economy that works for every American, not just those at the top.”

Clinton’s new plan would:

  • Streamline the process of starting a small business. It takes longer to start a business in the U.S. than it does in other countries like Canada or Denmark — often because of unnecessary red tape and licensing requirements at the state and local level. Hillary Clinton will offer state and local governments a deal – new federal incentives if they streamline unnecessary licensing and make it less costly to start a small business.
  • Improve access to financing for small businesses. Small business loans comprised just 29 percent of total bank loans in 2012, as compared with 51 percent in 1995. Clinton will work to boost small business lending by streamlining regulation and cutting red tape for community banks and credit unions, which are the backbone of small business lending in America — while also defending the new rules on Wall Street. Clinton’s plan also would allow entrepreneurs to defer student loan payments with no interest while they get their ventures off the ground.
  • Provide new tax relief and simplification for small businesses. Hillary will create a new standard deduction for small businesses—like the one available to individual filers—so they get tax relief without filing as many forms documenting their overhead costs, potentially including transportation, computer and phone use, maintaining an office and more. She will simplify the rules so small businesses can track and file their taxes as easily as filling out a checkbook or printing a bank statement. And the new plan would quadruple the start-up tax deduction to significantly lower the cost of starting a business.
  • Incentivize health care benefits for small businesses and their employees. Clinton would simplify and expand the healthcare tax credit for small employers in the Affordable Care Act, so that even more employers can provide quality, affordable healthcare to their workers. She will make sure that small businesses with up to 50 employees can be eligible for the credit, and she will simplify complex phase-out and eligibility rules so that it’s easier for many more small businesses to get the credit and cover their workers.
  • Ensure the federal government is more responsive to small businesses. Clinton will push the federal agencies to make government more user friendly and treat small businesses like the customer, including by guaranteeing a 24-hour response time to small business with questions about federal regulations and access to capital programs.
  • Make it easier to fight back when small businesses get cheated.  Clinton will stop large companies from using expensive litigation hurdles to deny small businesses their right to a remedy when they’re denied payment for services—and give small businesses recourse to take on predatory behavior.

The full comprehensive proposal is available here.

Legislative Committee Fails To Act On Governor Hassan’s “Gateway To Work” Program

Republicans Block The Proposal That Is Strongly Supported by New Hampshire’s Business Community 

CONCORD –Today, the Joint Legislative Fiscal Committee failed to act on Governor Hassan’s Gateway to Work proposal, which would have strengthened workforce development in our state and has strong support from the NH Business and Industry Association. An attempt to remove the proposal from the table was defeated by the Republican majority on the Fiscal Committee.

Announced in Governor Hassan’s State of the State Address earlier this year, Gateway to Work will use repurposed existing federal funds to help New Hampshire’s citizens succeed in the workforce through strengthening job training, creating new apprenticeship opportunities, helping remove the barriers that cause too many citizens to fail in the workplace, and helping young people in the Granite State get a leg up on their futures.

“As we educate our young people and build the highly skilled workforce of the future, innovative businesses looking to grow here in New Hampshire need more workers now,” Governor Hassan said at the Gateway to Work kickoff event in March. “We have an opportunity to better use the talent of our own people right here in New Hampshire, helping our businesses thrive while closing the opportunity gap for New Hampshire’s children and families.”

“Through Gateway to Work, we can provide more of the workers our businesses need to thrive,” Governor Hassan said. “We can help give more of our families the opportunity to work their way to self-sufficiency and into the middle class. And we will do so using only existing federal funds, while achieving long-term savings for taxpayers by moving people off of public assistance,” added Hassan.  

The New Hampshire business community has continued to say that New Hampshire does not have enough skilled workers to fill the open jobs currently available now.  Recently the Washington Post highlighted New Hampshire’s growing need for skilled manufacturing workers as the majority of the workforce heads into retirement.

“While New Hampshire’s 2.8 percent unemployment rate is largely a good thing — it’s one of the nation’s lowest — it also means the labor pool is shallow. It’s created a squeeze for manufacturing companies in particular for two reasons: The industry’s workforce is aging at a faster than average rate, while fewer young workers have the proper skills — or interest — to fill the void of retiring workers,” wrote the Washington Post.

Governor Maggie Hassan issued the following statement after the Joint Legislative Fiscal Committee failed to act on Governor Hassan’s Gateway to Work proposal:

“New Hampshire’s continued economic growth depends on our ability to meet the workforce needs of our businesses. As we work to retain existing businesses and attract new ones, the number one concern that I consistently hear from employers is their need for skilled workers.

“Gateway to Work has strong support from the business community because it would move people off of public assistance into sustainable careers, saving taxpayer dollars and providing innovative businesses with the workers they need to grow and thrive. With a strengthening economy and an unemployment rate that is among the lowest in the nation, the business community is desperate for workers. I am disappointed by the Fiscal Committee’s repeated delays with transferring the existing federal funds to launch Gateway to Work, and I am concerned that Republicans on the committee are allowing politics to prevent us from moving forward with this common-sense initiative to fill jobs at growing companies and help close the opportunity gap for New Hampshire’s children and families.”

After the vote, Sen. Lou D’Allesandro (D-Manchester), member of the Fiscal Committee, released the following statement: 

“I am frustrated and disappointed that the Joint Fiscal Committee played politics with our state’s economy today by voting against transferring TANF dollars to fund the innovative Gateway to Work program.  This program that has strong support from New Hampshire’s business community would have gone a long way towards strengthening our economy by providing potential employees with the skills and services they need to successfully gain employment.”  

“We hear constantly that with an improving economy, the most significant challenge our employers face today is finding skilled workers who are able to take jobs when offered. Gateway to Work targets potential employees who have barriers to employment such as reliable child care and transportation and helps lower those barriers to get them into the workforce. Every day that we delay implementation of this program, we leave both our unemployed constituents and our businesses behind.  We should be doing all we can to help Granite Staters escape poverty and move off of public assistance and towards self-sufficiency, and the vote by the Fiscal Committee today is a step in the wrong direction.” 

“Today’s action by the Republican majority forces our unemployed constituents to stay on public assistance programs instead of finding good employment and leaves our businesses without the workers they need to thrive and expand our economy.”

Representative Mary Jane Wallner (D-Concord) issued the following statement after the Joint Legislative Fiscal Committee failed to act on Governor Hassan’s Gateway to Work proposal:

“I am extremely disappointed that Republicans continue to obstruct the implementation of the Gateway to Work initiative. It is a common sense program critical to New Hampshire’s future and should be approved as quickly as possible.

The Gateway to Work initiative would help workers, businesses, and the economy as a whole by investing in job training, apprenticeship opportunities and other supports for hard-working Granite Staters. There is no reason to delay an initiative that benefits everyone: Gateway to Work would help workers to get good-paying jobs, help businesses utilize a skilled workforce, and reduce government spending by moving people off public assistance and into stable careers. Republicans need to stop playing politics with our state’s future and approve Gateway to Work.”

By continuing to block programs like the “Gateway to Work,”  Republicans in Concord are showing that they are less interested in doing what is best for working people and businesses in New Hampshire and more interested in chasing wild conspiracy theories from doctored videos and sticking to their partisan opposition to Governor Hassan.

Republicans routinely complain about having too many people “living off the system” on public assistance and yet oppose one of the strongest proposals to help people “pull themselves up by their bootstraps” by providing them with the skills necessary to find a lasting career that will help lift them out of poverty.

The DOL To Double Overtime Rule Lifting The Wages Of An Estimated 12 Million Workers

Thomas Perez delivers remarks after President Barack Obama announced Perez as his nominee for Labor Secretary, in the East Room of the White House, March 18, 2013. (Official White House Photo by Pete Souza)

Thomas Perez delivers remarks after President Barack Obama announced Perez as his nominee for Labor Secretary, in the East Room of the White House, March 18, 2013. (Official White House Photo by Pete Souza)

12.5 Million Americans: the number of people that the Economic Policy Institute (EPI) estimates will be affected by President Obama’s changes to the overtime rule.

Today, the Department of Labor, under President Obama’s direction, will update the threshold for salaried workers who automatically qualify for overtime when they work more than 40 hours a week.

“We’re making more workers eligible for the overtime that you’ve earned. And it’s one of the single most important steps we can take to help grow middle-class wages,” said President Obama.

“New overtime protections mark a major victory for working people that will improve the lives of millions of families across America,” said Richard Trumka, President of the AFL-CIO. “We applaud the Obama Administration heeding the call for action to ensure working people get paid for all the hours we work. Taking this step to restore overtime is one of the many ways we are beginning to change the rules of our economy that are rigged in favor of Wall Street.”

“The fight for even stronger overtime protections and to raise wages for all working people continues. But today, millions of workers will receive a long overdue raise, healthier and more productive jobs, and more time to spend with our community and loved ones,” added Trumka. 

This simple rule change will have a significant impact on our local and national economy. The White House estimates this rule change will put $12 billion dollars into the hands of hard working Americans over the next ten years.

The DOL is lifting the threshold for salaried workers from just over $23,660 a year to $47,476. This means that if you are a salaried employee who makes less than $47,476 dollars you will now be entitle to overtime (time and 1/2) for every hour worked in a week above 40.

This doubles the current salary threshold while being responsive to public comments regarding regional variations in income by setting the salary threshold at the 40th percentile of full-time salaried workers in the lowest income Census region (currently the South). Tying the salary threshold to the lowest-wage region of the country has strong historical precedent in previous rulemakings.

This salary threshold will be reevaluated and updated every three years ensuring that if continues to meet the 40th percentile mark.

Employers have used this low salary threshold to cheat workers out of higher wages for decades. Many of these workers routinely work 50-60 hours a week and are paid a flat rate. In some cases salaried workers were putting in so many extra hours, without any additional pay, that their per-hour rate would drop below the federal minimum wage of $7.25 an hour.

Now employers will have to choose between raising the wages of salaried employees or keeping employees at their current salary but reducing the number of hours they work in a week. Reducing the number of hours worked would lead to job growth as employers will need to hire additional workers to fulfill their needs.

Check out this short video from the White House that explain the rule change and how it will effect individual salaried workers. 

EPI estimates that raising the overtime salary threshold will directly benefit a broad range of working people, including:

  • 6.4 million women, or 50.9 percent of all directly benefiting workers
  • 4.2 million parents and 7.3 million children (under age 18)
  • 1.5 million blacks, and 2.0 million Hispanics
  • 4.5 million millennials, defined as workers age 16 to 34 (who make up 28.2 percent of the salaried workforce but 36.3 percent of directly benefiting workers)
  • 3.6 million workers age 25 to 34 (who make up 22.9 percent of the salaried workforce but 28.7 percent of directly benefiting workers)
  • 3.2 million workers with a high school degree but not more education (who make up 15.5 percent of the salaried workforce but 25.3 percent of directly benefiting workers)

This is a monstrous step in the right direction to lift the wages of millions of Americans. The White House estimates that the new rule is expected to extend overtime protections to 4.2 million more Americans who are not currently eligible under federal law.

The new rule is slated to take effect on December 1st of this year.


Below are a couple of charts from the EPI that break down what industries will see the biggest boost from this new rule change and the number of workers impacted by the new rule, state by state.

In New Hampshire, over 54,000 workers will be directly effected by this new rule change.  Texas, Florida and California will see the biggest increases with over 1 million workers benefiting from this change.

New Report Shows New Hampshire Workers Are Continuing To Lose Ground

New Report Examines New Hampshire Economy, Finds Wages for Many Workers Losing Ground    

CONCORD, NH – The New Hampshire Fiscal Policy Institute (NHFPI) today released a new report, The State of Working New Hampshire, which finds that while the Granite State economy appears to be flourishing by some measures, the benefits are not being felt by everyone. 

“A well-functioning economy should ensure that the workers contributing to it share in the gains they have helped to produce,” said NHFPI Executive Director Jeff McLynch. “Yet wages for the typical New Hampshire worker have not regained ground lost during the recession. Those workers – and the financial anxiety they face – should be the focus of policymakers’ efforts to shape the New Hampshire economy in the years ahead.”

The State of Working New Hampshire examines short- and long-term trends in employment, workforce demographics, wages, and incomes. Key findings include:

New Hampshire’s workforce is aging in character and stagnating in size. More than 25 percent of the state’s workforce is over age 55; in 2015, only Maine and Vermont had larger shares of the workforce in this age category. As increasing numbers of workers retire, there may not be enough younger workers to replace them, which raises concerns for the future of the workforce.

While employment is expanding in terms of the number of jobs, the quality of these new jobs has declined. An analysis of New Hampshire’s major employment sectors from 1990 to 2015 finds a steady shift away from higher wage manufacturing jobs toward lower wage service sector positions. Employment gains are found largely in the health care, social assistance, administrative support services, and hospitality industries, which traditionally offer lower wages on average.

Economic output for New Hampshire is expanding, but income for the typical household has declined. The state’s median hourly wage fell nearly 7 percent between 2007 and 2015. While New Hampshire has one of the highest median wages in the country, it experienced one of the steepest declines among all states since the onset of the recession.

Since 1990, New Hampshire has experienced uneven wage growth, which has grown increasingly more pronounced over time, particularly for workers on the lower end of the wage distribution. After adjusting for inflation, a worker in the top fifth of the distribution saw wages grow by 11 percent, while the hourly wage for a worker in the bottom fifth is now 7.4 percent lower overall.

As NHFPI explained in its earlier report, Taking the Measure of Need in the Granite State, the official poverty threshold understates the degree of economic insecurity in New Hampshire and elsewhere, as a family of three is considered “not poor” if it earns a collective income of $20,000. Of the roughly 77,900 working age adults living in poverty in New Hampshire, around 54 percent were employed full-time or part-time in 2014, and one-third of these adults – around 28,900 individuals – had attended college at some point in their lives. 

“As we consider public policies that will bolster employment and enable individuals to engage in the workforce more readily, we should be mindful of the fact that some jobs simply may not pay enough for workers and their families to achieve economic security,” said McLynch.

 

Learn more in NHFPI’s report, The State of Working New Hampshire, available online here 

The New Hampshire Fiscal Policy Institute is an independent, non-profit, non-partisan organization dedicated to exploring, developing, and promoting public policies that foster economic opportunity and prosperity for all New Hampshire residents, with an emphasis on low- and moderate-income families and individuals. Learn more at www.nhfpi.org.

Leo W Gerard: When a Coin Drops in Asia, Jobs Disappear in Detroit

Former Factory Closed (Image Michael Coghlan)

Former Factory Closed (Image Michael Coghlan)

Last year, free trade hammered Michigan’s 11th Congressional District, located between Detroit and Flint, killing manufacturing, costing jobs and crushing dreams.

It’s not over, either. Another 11th District company, ViSalus Inc., told the state it would eliminate 87 jobs as of last Saturday, slicing its staff by nearly 400 since 2013 when ViSalus was the second-largest direct sales firm in the state.

The numbers are staggering. The Economic Policy Institute (EPI) released a reportlast week showing that America’s $177.9 billion trade deficit in 2015 with the 11 other countries in the proposed Trans-Pacific Partnership (TPP) trade deal caused 2 million job losses nationwide.

This trade deficit reduced jobs in every U.S. congressional district except two, EPI said, but Michigan’s 11th had the ignoble distinction of suffering more as a share of total employment than any other district in the country. It was 26,200 jobs. Just in 2015. It was tech workers in January and teachers in July and tool makers in August and auto parts builders in October.

Manipulation of money killed those jobs. It works like this: Foreign countries spend billions buying American treasury bonds. That strengthens the value of the dollar and weakens foreign currencies. When a country’s currency value drops, it acts like a big fat discount coupon on all of its exports to the United States. And it serves simultaneously as an obscene tax on all U.S. exports to that country.

Among the TPP countries, Malaysia, Singapore and Japan are known currency manipulators, and Vietnam appears to be following their example. EPI found that currency manipulation is the most important cause of America’s massive trade deficits with TPP countries. Trade deficits mean products are shipped to the United States rather than made in the United States. The math is simple. A drop in Asian currency means a drop in U.S. jobs.

EPI looked at what types of imports the 11 countries sent the United States last year to determine what types of industry and jobs America lost as a result. The overwhelming majority was motor vehicles and parts. That’s why Michigan was the biggest loser of all of the states. The auto sector was followed by computer and electronic parts ­– including communications, audio and video equipment – and primary metals – including basic steel and steel products.

In addition, EPI found job losses in industries that serve manufacturers, like warehousing and utilities, and services like retail, education and public administration.

Each of these kinds of losses occurred last year in Michigan’s 11th district, located in the heart of America’s car manufacturing country in southwestern Oakland County and northwestern Wayne County, where Detroit is parked just outside the district’s lines.

In January, in Michigan’s 11th, Technicolor Videocassette of Michigan, Inc., a subsidiary of the French multimedia giant Technicolor SA, laid off 162 workers in Livonia. That same month, what was once a vibrant chain of cupcake stores called Just Baked shuttered several shops, putting an untold number of bakers and clerks in the street, some with last paychecks that bounced.

In February, the Sam’s Club store in Waterford closed, throwing 122 in the street. Waterford municipal official Tony Bartolotta called it another “nail in the coffin” for the township’s east side.

In April, Frito-Lay told 17 workers that they’d lose their jobs later that year when it closed its Birmingham warehouse.

In July, 231 teachers in the Farmington Public Schools learned they would not have work in the new school year. One of them, 25-year-old Val Nafso, who grew up in Farmington, told the Oakland Press, “I hope things change where people who are passionate about teaching can enter the profession without 1,000 people telling them “Don’t do it…get out now.”

In August, DE-STA-CO, a 100-year-old tool manufacturer, told Michigan it would end production in Auburn Hills, costing 57 workers their jobs.

In October, Waterford laid off 39 firefighters. The township had received a $7.6 million grant in 2013 to hire them, but just couldn’t come up with local funds to keep them. That happens when factories close and bakeries shut down. Township officials told concerned residents they’d looked hard at the budget, “We started projecting out for 2017 and it flat lined,” Township Supervisor Gary Wall told them.

Later that month, FTE Automotive USA Inc., an auto parts manufacturer, told Michigan it would close its Auburn Hills plant and lay off 65 workers.

In the areas around Michigan’s 11th, horrible job losses occurred all last year as well, which makes sense since EPI found 10 of the top 20 job-losing districts in the country were in Michigan.

Ford laid off 700 workers at an assembly plant in Wayne County in April. GM eliminated a second shift, furloughing 468 workers at its Lake Orion Assembly Plant in Oakland County in October.

Auto supply company Su-Dan announced in September it would close three factories in Oakland County by year’s end, costing 131 workers their jobs.

In October, a division of Parker Hannifin Corp. in Oxford, Oakland County, that manufactured compressed air filters told its 65 workers they wouldn’t have jobs in 2016. “There’s a lot of people there that are paycheck to paycheck, and it’s going to hurt them,” Michelle Moloney, who worked there 25 years, told a reporter from Sherman Publications.

The threat of the TPP is that it does absolutely nothing to stop this job-slaughter. Lawmakers, public interest groups, manufacturers, and unions like mine all pleaded with negotiators to include strong provisions in the deal to punish currency manipulators. They didn’t do it.

They included some language about currency manipulation. But it’s not in the main trade deal.  And it’s not enforceable.

Swallowing the TPP would be accepting deliberately depressed currency values in Asian trading partner countries and a permanently depressed economy in the U.S. car manufacturing heartland.

It’s the TPP that should disappear. Not Detroit.

Making Ends Meet Conference Explores Solutions to Enhance Economic Stability for New Hampshire Families

nhfpi-budget-policy-conference-illoCONCORD, NH – The New Hampshire Fiscal Policy Institute (NHFPI) today convened Making Ends Meet: Enhancing Economic Security, Fostering Shared Prosperity to examine a range of policy solutions that can help to ease the struggles New Hampshire’s working families face.

“New Hampshire has one of the higher costs of living in the nation, leaving many working families to face a substantial gap between what they earn and what they must spend on essentials — from housing and groceries to health care and child care,” said NHFPI Executive Director Jeff McLynch. “New Hampshire should pursue a comprehensive strategy that addresses both sides of the equation, boosting stagnant incomes and bringing the cost of basic necessities within closer reach.”

The event opened with a review of basic family budgets for New Hampshire, presented by David Cooper, senior analyst with the Economic Policy Institute.

“For most regions of New Hampshire, costs for housing and child care alone exceed what many low wage workers bring in,” said David Cooper. “In Concord, a single parent with one child faces costs that are more than twice what they would earn working full time at $10 an hour, forcing untenable choices between food, rent, heat, and basic necessities.” 

The first panel discussion examined low wages and workplace policies that make it difficult to care for family needs. Panelists outlined an array of strategies that can boost wages and incomes, from increasing the minimum wage and ensuring access to paid leave to creating an Earned Income Tax Credit (EITC) and increasing financial assets. Panelists included Holden Weisman, state and local policy manager, CFED; Ben Zipperer, research economist, Washington Center for Equitable Growth; and Jeffrey Hayes, program director, job security and income quality, Institute for Women’s Policy Research.

A second panel of state and national policy experts examined New Hampshire’s high cost of housing, child care, and health care and discussed policy changes that can make these basic necessities more affordable. Panelists included Helen Blank, director, child care and early learning, National Women’s Law Center; Judith Solomon, vice president for health policy, Center on Budget and Policy Priorities; and Elissa Margolin, director, Housing Action New Hampshire.

“Access to affordable health care is essential for families to achieve economic stability,” said Judith Solomon. “The reauthorization of New Hampshire’s Health Protection Program would ensure individuals have the ability to address health concerns before they become serious conditions and increase the chances that they can remain in the workforce.” 

The event concluded with a keynote address by Dr. Katherine S. Newman, provost of University of Massachusetts, Amherst, and a distinguished author, researcher, and lecturer who has dedicated much of her career to the study of poverty, inequality, and economic opportunity in the United States and around the globe. Dr. Newman is the author of more than a dozen books, including The Missing Class: Portraits of the Near Poor in America and Chutes and Ladders: Navigating the Low Wage Labor Market.

“For far too many families across this country, the economic downturn accelerated the steady erosion of their economic security and sent them into a downward spiral toward poverty,” said Dr. Newman. “There is no single solution to reverse this trend. We should take a systems approach to addressing their challenges, so that working families have the ability to provide a solid foundation for their children and increase their access to economic opportunity.” 

The event’s nearly 140 attendees, which included New Hampshire legislators, business owners, nonprofit and community leaders, and concerned citizens, were provided with an opportunity to engage in dialogue around the numerous financial challenges facing low-wage earners and policy changes that can enhance their economic stability.

NHFPI’s third annual policy conference, Making Ends Meet was made possible with the support of presenting sponsor National Education Association-NH (NEA-NH), supporting sponsor Campaign for a Family Friendly Economy, and the following partner organizations: Child and Family Services of New Hampshire, New Futures, Full Circle Consulting, and Kieschnick Consulting Services. 


The New Hampshire Fiscal Policy Institute is an independent, non-profit, non-partisan organization dedicated to exploring, developing, and promoting public policies that foster economic opportunity and prosperity for all New Hampshire residents, with an emphasis on low- and moderate-income families and individuals. Learn more at www.nhfpi.org.

NEXTGEN Climate America Report Projects NH Job Growth Through Clean Energy Investment

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As we begin 2016, a brand new economic report released by NextGen Climate America is giving New Hampshire a glimpse into the clean energy future –and the economic prosperity that it will bring to Granite Starters from Manchester to Colebrook.   

As further detailed in Pathways to Deep Decarbonization in the United States, efforts to cut carbon pollution and expand clean energy resources will create thousands of jobs in New Hampshire, increase Granite Staters’ household disposable incomes and help stimulate massive growth within the state’s economy.

Among the report’s key findings was the groundbreaking revelation that a clean energy economy will Create up to 8,000 additional New Hampshire jobs by 2030 and 15,000 new jobs by 2050; boost New Hampshire’s economy by over $1 billion by 2030 and over $2 billion by 2050; and increase New Hampshire families’ household disposable income by over $500 in 2030. 

This analysis confirms that transitioning to clean energy isn’t just good for the environment—it it’s also a key to ensuring a prosperous economic future for New Hampshire. Transitioning to clean energy will grow the Granite State’s manufacturing sector, creating 3,400 new jobs by 2030 and 3,600 additional jobs by 2050. Building out the clean energy infrastructure and facilities needed to power our economy will create more than 1,200 additional construction jobs by 2030 and 2,400 new jobs by 2050.

This study make clear that reducing greenhouse gas emissions by transitioning New Hampshire’s economy to clean energy is possible with existing technology. It will create jobs, grow the economy, raisehousehold incomes, and protect New Hampshire families against the worst impacts of climate change. 

Bernie Sanders Launches Four New Ads Focusing On Working Families

BURLINGTON, Vt. – Four new television ads from the Sanders campaign will hit airwaves in early primary states starting tomorrow. The spots focus on Sanders’ plans to end policies that leave American families working longer hours for lower wages.

“What this campaign is about is to demand that we create an economy that works for all of us rather than a handful of billionaires,” Sanders says in an ad titled “Working Families.”

In a second spot, Sanders tells a crowd about his fight in the Senate to stop Social Security cuts. “We said it will be over our dead bodies if you cut Social Security. As president, I will do everything I can to extend the solvency of Social Security and expand benefits for people who desperately need them,” Sanders promises in the ad titled “Social Security.”

“Bernie Sanders understands how pharmaceutical companies and major medical companies are ripping us off,” Mari Cordes, a registered nurse from Lincoln, Vermont, says in an ad on the cost of health care. “He’s the only one who can bring real change.”

“The 15 richest Americans acquired more wealth in two years than the bottom 100 million people combined,” Sanders says into the camera before laying out his plan to make the wealthy pay their fair share and bring prosperity to working Americans in a fourth ad titled “Bottom 100 Million.”

The new ads come on the heels of Sanders’ two millionth contribution and a 12-point pickup in the latest CNN/ORC national poll, including growing support among what the pollster refers to as non-white voters. The latest The Economist/YouGov poll shows Sanders gaining significant ground. Sanders is currently campaigning in Nevada where more than 2,000 people turned out to see him speak just two days after Christmas.

American Family Voices Campaign To Unite Progressives On Economic Agenda

New York City Mayor Bill de Blasio, Sen. Elizabeth Warren, Sen. Sherrod Brown,
Rep. Raul Grijalva, progressive movement advocates, and business leaders
make the argument for a progressive economic agenda.

 

Washington, D.C. — Today, American Family Voices is launching a new campaign uniting progressive politicians, movement advocates, and socially conscious business leaders to make the argument for a progressive economic agenda, with the video release of “Fairness AND Growth: the Progressive Economic Alternative.” On Friday, October 2nd, AFV, in collaboration with State Innovation Exchange, will convene the “Forging an Alliance Between Progressive Leaders and Socially Conscious Businesses” conference to advance this agenda.

What does such an agenda look like? To make an expanding and prosperous middle class the engine of our economy again, we support ending corporate welfare and closing tax loopholes; increasing wages and strengthening working families; protecting the dignity of retirement by strengthening Social Security and Medicare; investing in infrastructure, education, and green energy to create more jobs; and taming the power of Wall Street.

Our video features exclusive interviews with New York City Mayor Bill de Blasio, Sen. Elizabeth Warren, Sen. Sherrod Brown, Rep. Raul Grijalva, Dr. Gabriela Lemus of Progressive Congress, Damon Silvers of the AFL-CIO, Deepak Bhargava of Center for Community Change, Khalid Pitts of USAction, small business owner MaryAnne Howland, New Resource Bank President Vince Siciliano, and economist Mike Konczal of the Roosevelt Institute, and quotes from Pope Francis, Richard Trumka, and Robert Reich.

The president of American Family Voices, Mike Lux, said, “Together, these voices tell the story of how a movement is rising once again to create an economy that raises working families up instead of enriching wealthy elites — an economy based on a prosperous and expanding middle class, not a trickle-down fantasy.”

Since the beginning of 2015, a variety of organizations and individuals have promoted a progressive economic agenda:

AFL-CIO

Alliance for a Just Society

American Family Voices

Campaign for America’s Future

Center for Community Change

Center for Popular Democracy

Leadership Conference on Civil and Human Rights

MoveOn.org

National People’s Action

Progressive Change Campaign Committee

Progressive Congress

Roosevelt Institute

The Progressive Agenda Coalition

USAction

Working Families Party

“The emperor has no clothes: Reaganomics simply doesn’t work for the majority of Americans,” said AFV Executive Director Lauren Windsor. “This country was not built to be a serfdom. We need a progressive economic agenda to ensure we don’t become one.”

New Report Shows Ways To Help Small Businesses And Economy Include Raising The Minimum Wage

“Economic Agenda for America’s Future” includes set of short and long-term policy recommendations Washington can act on now and in the future that will drive economic growth, job creation and competitiveness 

(Image Sam Howzit FLIKR CC)

(Image Sam Howzit FLIKR CC)

Washington D.C.–Today, Small Business Majority released its updated Economic Agenda for America’s Future, a set of short and long-term policy recommendations government leaders can follow to ensure an environment where entrepreneurs, and our economy, can thrive. The Agenda outlines things Washington can do to bolster small business – including simple actions that can be taken during the next few months.

The recommendations range from action on access to capital, taxes, infrastructure, healthcare, immigration and freelance economy to minimum wage, workforce training, clean energy and exports, and are all tied to creating economic opportunities for small businesses and entrepreneurs.

“There is no denying the impact our 28 million small businesses have on our economy,” said John Arensmeyer, Founder & CEO of Small Business Majority. “Yet, small businesses too often find their needs being subordinated to those of big business, and sometimes even hijacked to support ideologically driven polices that don’t benefit them. Moreover, policymakers fail to recognize the rapid expansion of our new Internet-driven freelance economy, where much of the dynamic and innovative entrepreneurial activity happens today.”

Small businesses represent 99 percent of employer firms, employ half of all private sector employees and pay around 40 percent of U.S. private sector payroll. Small businesses and entrepreneurs have long been America’s engine for job growth and today more jobs are created by small businesses and the self-employed than any other way in America.

“Until we recognize and support the vital role of small businesses, we’re not giving our economy the best chance to flourish,” Arensmeyer said. “We must have a clear economic agenda that ensures we’re creating an environment where small businesses thrive, that provides the resources for small businesses to succeed and that ensures an economy that works for everyone. Focusing on small businesses and entrepreneurs is the surest way to drive the nation’s growth, job creation and competitiveness.”

The Agenda outlines things Washington can do over the next couple months that will create greater opportunity for entrepreneurs, which include:

  • The Securities and Exchange Commission can release final rules for crowdfunding to provide more opportunities for small business to access capital.
  • Congress can expand support for the State Small Business Credit Initiative, which funds new and existing state programs that support lending to and investment in small businesses.
  • Congress can pass long-term reauthorization of the Export-Import Bank to ensure small businesses have access to global markets.
  • The Administration can facilitate the sharing of online tax data between the IRS and lenders, which will streamline the lending process for small businesses.
  • Congress can permanently raise the small business expensing (sometimes called Section 179 expensing) level to $500,000, and allow small businesses to deduct up-front the cost of purchasing new equipment, software and property.
  • Increasing the national minimum wage to $12 per hour.
  • Passing a comprehensive immigration law guaranteeing eventual citizenship for those who play by the rules and contribute to our economic success, coupled with appropriate and reasonable employment verification provisions

The list of things Washington can do to help small business over the next two years is even greater. To read the full agenda visit: http://www.smallbusinessmajority.org/economic-agenda

For an executive summary of the report, visit: http://www.smallbusinessmajority.org/economic-agenda/downloads/Economic-Agenda-2015-Executive-Summary.pdf

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