Economy & Jobs

One of my top priorities is to create new jobs and opportunities for everyone living in California’s Fifteenth Congressional District. The federal government must have policies that support economic growth and focus on expanding the middle class through innovation and technology.  That means we must change our federal tax code to reward companies that create jobs in this country and remove systemic incentives to ship jobs overseas.

We also must update and expand  educational opportunities so that our children are prepared for the high-tech jobs of the future, and we must support research into new, clean energy sources as a way to support domestic industry and protect our environment.

We cannot let partisan and ideological differences stand in the way of our coming together for the common good. I will always support a good idea, whether it is proposed by a Democrat or by a Republican, if it means more jobs, higher incomes, and a better quality of life for Americans.

What I am Doing for You

In the 116th Congress, my colleagues and I passed H.R.582, the Raise the Wage Act, which I co-sponsored, to raise the minimum wage to $15 an hour by 2024. I also co-sponsored this bill in the 114th and 115th Congresses.

With bipartisan support, I cosponsored and helped pass H.R. 397, the Rehabilitation for Multiemployer Pensions Act. This bill establishes a new agency (the Pension Rehabilitation Administration) within the Treasury Department to provide 30-year loans to multiemployer defined benefit pension plans that are in critical or declining financial condition so that they may meet their pension obligations to current retirees. Only interest would be required to be paid back until year 30; loans may be forgiven if a plan is not able to pay them back.

This year, I also introduced H.R.4481, the Securing Energy Critical Elements and American Jobs Act, to help the United States develop the technical expertise and production capabilities to assure a long-term, secure and sustainable supply of energy critical elements (ECEs). If we want to keep leading the world in technological advancement and create more American jobs, we must secure these energy critical elements and their production.

As part of a bipartisan effort to support job seekers, I introduced the Widening Internet Readiness for Employment Development (WIRED) Act. This bipartisan bill would direct the Department of Labor to create guidelines for One-Stop Career Center websites to dramatically improve their design and offer virtual job-seeking services.

My first bill in my first term in Congress was the Main Street Revival Act to help grow our economy and create jobs. Each year, I have worked on this bipartisan bill which would let small businesses located in struggling areas elect to defer paying payroll taxes for their first year, helping them get off of the ground.

More on Economy & Jobs

December 2, 2020 Press Release

WASHINGTON, DC - Today Congressman Brad Sherman (D-Sherman Oaks), who chairs the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets, and Congressman Eric Swalwell (D-Castro Valley) introduced the Internal Control Disclosure Improvement Act, a bill to ensure that public companies which have been subject to certain Securities and Exchange Commission (SEC) accounting and auditing enforcement actions proactively disclose internal accounting controls in the future.

September 24, 2020 Press Release

WASHINGTON, DC – Rep. Eric Swalwell (D-CA) and Rep. Guy Reschenthaler (R-PA) on Thursday held the inaugural event of their new bipartisan Congressional Critical Materials Caucus, with three experts discussing how America can assure a long-term, secure, and sustainable supply of energy critical materials (ECMs).

The event coincided with a floor vote on legislation to help achieve these goals, which Rep. Swalwell has carried in every Congress since 2013. The legislation passed on a 220-185 vote, and now goes to the Senate.

July 24, 2020 Press Release

WASHINGTON, DC —Today, Rep. Eric Swalwell (D-CA) and Rep. Guy Reschenthaler (R-PA) launched the Congressional Critical Materials Caucus to help the United States develop the technical expertise and production capabilities to assure a long-term, secure and sustainable supply of energy critical elements (ECEs).