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 unanimously approved by the Senate Labor Committee today.
“Congress has an obligation to drag the practice of outsourcing American jobs into the light of day, not just for the workers who’ve been outsourced, but for potential investors in the companies engaged in outsourcing,” said Senator Van Drew, D-Cape May and Cumberland. “Many investors might back off of a company with a record of sending U.S. jobs overseas for a quick buck. By publishing a list of companies which are outsourcing jobs, we can bring the pressure of the market to bear to end greedy corporate practices which undercut the American economy.”
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.
“Federal lawmakers cannot stand by while corporations soak the working class to increase their profit share,” said Senator Van Drew. “In New Jersey, we’ve already taken steps to prevent the outsourcing of State jobs, but our efforts can only go so far, and we need the federal government to step in to take the ball further down the field. Full disclosure of companies seeking to ship jobs overseas to fatten shareholders’ wallets is needed so that we can address job loss in America.”
The bill now heads to the full Senate for consideration.