House OKs bigger trade job-loss aid program
Thu Nov 1, 2007 8:01am EDT
By Doug Palmer
http://www.reuters.com/article/politicsNews/idUSWBT00785120071101?sp=trueWASHINGTON (Reuters) - The House of Representatives, defying a White House veto threat, on Wednesday passed a multibillion-dollar expansion of a program to help retrain workers who have lost their jobs because of foreign competition.
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Only 38 Republicans joined 226 Democrats in support, and the vote fell short of the two-thirds majority needed to overcome a veto.
The bill would for the first time extend federal trade adjustment assistance (TAA) to the service sector, which accounts for about 80 percent of U.S. employment, and allow more manufacturing workers to apply for the aid.
It also provides a two-year increase in federal subsidies to help displaced workers pay for health insurance after losing their jobs. Democrats say the current tax credit hasn't worked well and plan to revisit the issue later.
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The bill also modifies the WARN Act by requiring employers to give 90 days notice of plant closings and mass layoffs, instead of 60 days currently, and doubling the penalties for companies that fail to comply.