Dive Brief:
- President Barack Obama released his 2017 budget today, and there are several items of interest for HR leaders and employers within the overall plan, including emphasis on paid leave and unemployment insurance.
- There are also sections that focus on fostering continued job growth and revitalizing manufacturing in the U.S.
- Among the many provisions related to the American workforce, the 2017 budget also includes $3 billion in competitive funding to create more than 50 “Talent Hotspots” across the country that would prioritize a sector and make a commitment to train the workforce and help localities to improve their economies.
Dive Insight:
The budget encourages states to establish paid leave programs, providing more than $2 billion for the Paid Leave Partnership Initiative to help up to five states launch paid family and medical leave programs. The President has already called for executive action to expand paid sick leave for employees of Federal contractors.
Another section deals with modernizing the unemployment insurance safety net so that it will "reflect the modern economy and workforce." According to the budget document, these reforms will ensure more Americans have access to UI if they lose a job and provide new protections for workers who take a pay cut in order to get back into work.
Also of interest to HR leaders: the 2017 budget includes a package of proposals aimed at increasing access to retirement plans. The budget's proposals aim to ensure greater access to workplace retirement savings accounts.
