I want to pull out some of the great labor provisions in the House #BuildBackBetterAct

Tho reconciliation rules prevent Congress from completely re-balancing Corporate V Labor power, this bill is a big win for workers
🧵
First, the @EdLaborCmte bill cracks down on Wage Theft, with hefty new fines (10X the old fines!) the @USDOL can impose when employers steal from their workers

This will make employers think twice and obey overtime and min wage laws
Its important because @JaniceFine6 @jennround @Daniel_J_Galvin @RutgersCIWO documented that wage theft:
-is quite common
-the avg violation steals 20% of a workers wage
-affects women and people of color most, exacerbating the #WageGap

equitablegrowth.org/research-paper…
@JaniceFine6 @jennround @Daniel_J_Galvin @RutgersCIWO Second: for the low, low cost of $4.5B, the @WaysMeansCmte bill gives every union worker a $250 tax deduction for their dues!

This is an improvement on a deduction the 2017 TCJA eliminated. Unions help society and dues should not be counted as taxable income
@JaniceFine6 @jennround @Daniel_J_Galvin @RutgersCIWO @WaysMeansCmte Third, speaking of unions, @annastansbury documents for @PIIE that there’s currently no real penalty for companies that violate the law and prevent workers from unionizing.

The law badly needs enforcement mechanisms

piie.com/publications/w…
@JaniceFine6 @jennround @Daniel_J_Galvin @RutgersCIWO @WaysMeansCmte @annastansbury @PIIE This bill lets the @NLRB enforce its rulings with real monetary penalties up to $100K and makes new protections for worker actions

It isn’t the full #PROAct, but it will help workers get what they want, as @awh says here: equitablegrowth.org/aligning-u-s-l…
@JaniceFine6 @jennround @Daniel_J_Galvin @RutgersCIWO @WaysMeansCmte @annastansbury @PIIE @NLRB @awh There’s also new powers given to @OSHA_DOL and @EEOC, which will help them enforce workplace safety laws and anti-discrimination laws.

Its about time.

This bill is long overdue and will protect workers from companies and managers trying to harm them

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More from @CoreyHusak

7 Sep
At first glance, there's some fundamental flaws in this “study” from the @USChamber today (featured in @Morning_Tax)

It takes many leaps of logic to think ending the carried interest #tax loophole will lose the US ~5 million(!) jobs. The Chamber needs to try again 🧵
What’s going on?

Biden proposes closing a loophole letting Private Equity and Venture Capital managers pay 20% cap gains rate instead of the regular 39.6%

The Chamber says this costs as many jobs as in the state of Georgia and billions of tax $.

The argument is quite shaky
Flaw 1: The Chamber’s own appendix

The Chamber says:Upping PE&VC managers’ taxes hurts firms activity, but offers no evidence.

Q:what happened when their taxes rose⬆️33% (5pp) in 2012?
A:PE deals increased, the opposite of what this “study” claims!

Why's this time different?
Read 11 tweets

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