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Pocan Offers Amendment to Protect American Workers from Offshoring

May 22, 2018
Press Release

WASHINGTON, DC (May 22, 2018) U.S. Representative Mark Pocan (WI-02) last night offered an amendment to the Republicans’ Dodd-Frank roll-back bill that would have fought against the offshoring that is crippling communities across the country. The amendment, which would have ensured that banks that have outsourced more than 50 jobs in any of the last five years remain subject to stricter federal oversight, was rejected by the House Committee on Rules.

“Last year, Speaker Ryan said that the GOP tax scam would stop corporations from offshoring American jobs, but the banking industry, one of the bill’s biggest winners, is now aggressively sending jobs overseas. Today, Speaker Ryan and Republicans are again siding with corporations over workers and exacerbating the issue by allowing big banks to offshore American jobs as part of the Dodd-Frank roll-back. Offshoring not only takes jobs away from American workers, it sends harmful ripple effects throughout the economy and communities across the country.

“We need to enact policies that will expand opportunity for the American people, not allow banks to exploit the system at the expense of working families. My amendment would have instituted the right protections to crack down on banks trying to cut corners and offshore jobs, but House Republicans once again sided with big corporations, special interests, and Republican donors.”