[Congressional Record Volume 145, Number 107 (Tuesday, July 27, 1999)]
[Senate]
[Page S9382]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. GRAMM (for himself, Mr. Lott, and Mr. McConnell):
  S. 1440. A bill to promote economic growth and opportunity by 
increasing the level of visas available for highly specialized 
scientists and engineers and by eliminating the earnings penalty on 
senior citizens who continue to work after reaching retirement age; to 
the Committee on Finance.


                  new workers for economic growth act

  Mr. GRAMM. Mr. President, today I am joined by Senators Lott and 
McConnell in introducing the New Workers for Economic Growth Act, which 
will increase the number of H-1B temporary work visas used by U.S. 
companies to recruit and hire foreign workers with very specialized 
skills, particularly in high technology fields. In addition, the 
legislation eliminates the reduction in Social Security benefits now 
imposed on individuals aged 65 through 69 who continue to work and 
whose earnings exceed $15,500 annually. This bill will ensure that the 
U.S. economic expansion will not be impeded by a lack of skilled 
workers.
  With record low unemployment, many U.S. companies have been forced to 
slow their expansion, or cancel projects, and may be forced to move 
their operations overseas because of an inability to find qualified 
individuals to fill job vacancies. We will achieve our full economic 
potential only if we ensure that high-technology companies can find and 
hire the people whose unique qualifications and specialized skills are 
critical to America's future success.
  Last year, the Congress increased temporarily the number of annual H-
1B visas from 65,000 to 115,000 for Fiscal Years 1999 and 2000, and to 
107,500 in 2001. The number of H-1B visas is scheduled to drop back to 
65,000 for Fiscal Year 2002 and subsequent years. The New Workers for 
Economic Growth Act will increase the H-1B visa cap to 200,000 for 
Fiscal Years 2000, 2001 and 2002. By the end of that period, we will 
have the data we need to make an informed decision on the number of 
such visas required beyond 2002. The bill retains the language of 
current law which protects qualified U.S. workers from being displaced 
by H-1B visa holders.
  According to a recent study by the American Electronics Association 
(AEA), Texas has the fastest growing high technology industry in the 
country and is second only to California in the number of high 
technology workers. This legislation will ensure that these companies 
have access to highly skilled, specialized workers, in order that such 
businesses can continue to grow and prosper, and in doing so, create 
jobs and opportunity for U.S. workers.
  Additionally, our bill expands work opportunities for America's 
retired senior citizens by removing the financial penalty which is now 
imposed on those who choose to continue to work while receiving Social 
Security and whose wages exceed specified levels. The Social Security 
earnings test robs senior citizens of their money, their dignity, and 
their right to work, and it robs our Nation of their talent and wisdom. 
I believe that this legislation represents a fair and effective way to 
address a critical need in our Nation's economy, and I hope my 
colleagues will quickly approve this important proposal.
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