Van Drew Call For Federal Disclosure Of Outsourcing Companies Approved

TRENTON – A resolution sponsored by Senator Jeff Van Drew which would call on Congress to enact legislation requiring the publication of a list of companies which are engaged in outsourcing United States jobs to other countries was approved by the Senate today, receiving final approval.

“Investors have a right to know whether the companies they invest in are engaged in the practice of outsourcing American jobs and undercutting the American economy,” said Senator Van Drew, D-Cape May and Cumberland. “By dragging outsourcing into the light of day, and equipping investors with the knowledge of companies’ involvement in the practice, we can bring the strength of the market to bear to sharply reduce outsourcing. Congress must demand that corporations disclose to the public whether they currently outsource jobs, or plan to outsource jobs in the near future, so that we can begin a serious discussion about how to keep American jobs on American soil.”

The resolution, SR-24, memorialized Congress to enact legislation requiring the annual publication of a list disclosing companies which are planning to, or currently engaged in, outsourcing United States jobs to other countries. Senator Van Drew noted that outsourcing is a growing trend in the United States, allowing corporate leaders to profit while the national jobless rate rises and the economy continues to decline. According to a report from Forrester Research, Inc., 3.3 million jobs will be lost due to outsourcing by 2015, accounting for $136 billion in lost wages in this country.

“Outsourcing is a slap in the face to every hard-working American citizen who has ever been laid off,” said Senator Van Drew. “Federal lawmakers cannot stand idly by while corporate greed, rather than concern for the fate of the working-class, guides the business practices of too many companies in the United States today. As we teeter on the brink of recession, we must seriously address job loss in America, and an honest, national reckoning of outsourcing in the business community will be a step in the right direction.”

The resolution, which will now be filed with the Secretary of the Senate, will also be transmitted to the United States Congress.

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