[Congressional Record Volume 161, Number 122 (Thursday, July 30, 2015)]
[Senate]
[Pages S6189-S6190]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. REED:
  S. 1902. A bill to provide for the treatment and extension of 
temporary financing of short-time compensation programs; to the 
Committee on Finance.
  Mr. REED. Mr. President, today I am introducing the Layoff Prevention 
Extension Act. This bill would extend the financing and grant 
provisions for the successful work sharing legislation I authored and 
worked to include in the Middle Class Tax Relief and Job Creation Act 
of 2012.
  The concept of work sharing is simple. It helps people who are 
currently employed, but in danger of being laid off, to keep their 
jobs. By giving struggling companies the flexibility to reduce hours 
instead of their workforce, work sharing programs prevent layoffs and 
help employers save money on rehiring costs. Employees who participate 
in work sharing keep their jobs and receive a portion of unemployment 
insurance benefits to make up for lost wages.
  Since becoming law, work sharing has helped save over 110,000 jobs, 
including 1,200 jobs in my State of Rhode Island, according to 
estimates from the Department of Labor. And it has saved States $225 
million by reimbursing them for work sharing benefits they paid out to 
workers--benefits that helped keep people on the job.
  Before my bill became law in 2012, only a handful of States had work 
sharing programs. Now, these programs enjoy broad bipartisan support 
and have been established in 29 States and the District of Columbia. 
However, the $100 million in implementation grants expired at the end 
of 2014, and the 100 percent Federal financing of these work sharing 
benefits will expire next month.

[[Page S6190]]

  The legislation I am introducing today would extend these deadlines 
by 2 years so that states with existing work sharing programs, and 
those that are looking to enact a program, can qualify for Federal 
support.
  I urge my colleagues to join me in supporting passage of this bill to 
keep American workers on the job, save taxpayers money, and provide 
employers with a practical, positive, and cost-effective alternative to 
layoffs.
                                 ______