Committee Advances Bills to Modernize Nation’s Workforce Development, Strengthen Retirement Security
WASHINGTON – Today, the Education and Labor Committee advanced two bills—the Workforce Innovation and Opportunity Act of 2022 (H.R. 7309) and Protecting America’s Retirement Security Act (H.R. 7310)—to update the nation’s workforce development system and strengthen retirement security for workers.
The Workforce Innovation and Opportunity Act of 2022 reauthorizes the Workforce Innovation and Opportunity Act (WIOA) for six years and fully funds the workforce development system to ensure workers can get the skills they need to secure more sustainable careers. The authorization for WIOA expired in 2020 and federal investment in workforce development has fallen dramatically over time.
The Committee advanced the bill by a vote of 29-21, with 0 Republicans in favor.
“We currently have record low unemployment and record job growth, yet job openings currently exceed applicants and employers are clamoring for skilled workers. It is essential we reauthorize WIOA and expand access to high-quality job training opportunities,” said Chairman Robert C. “Bobby” Scott (VA-03). “The Workforce Innovation and Opportunity Act of 2022 remedies decades of underfunding in workforce development so we can finally meet the needs of both workers and businesses.”
The Protecting America’s Retirement Security Act strengthens the retirement system to protect workers’ retirement savings and better support families and employers. These improvements include helping workers understand the fees they pay on retirement investments, strengthening retirement plan protections for spouses, and encouraging workers to build emergency savings.
The Committee advanced the bill by a vote of 29-21, with 0 Republicans in favor.
“We all agree that workers in this country deserve to retire with security. Just last week, the House overwhelmingly passed legislation that would make key improvements to our retirement system,” Chairman Scott continued. “Now, the Protecting America’s Retirement Security Act provides us an opportunity to build on that progress and continue to help workers, families, and employers. This bill takes important steps to help Americans plan and save for a dignified retirement.”
For Chairman Scott’s full remarks, click here.
For the fact sheet and section by section of the Workforce Innovation and Opportunity Act of 2022, click here and here.
For the fact sheet and section by section of the Protecting America’s Retirement Security Act, click here and here.
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