WASHINGTON, D.C. – Today, Congressman John Conyers, Jr. became an original cosponsor of the Patriot Corporations for America Act.  This legislation rewards corporations for keeping jobs at home and for acting responsibly in the workplace.

“In advance of the July 4th holiday,” said Mr. Conyers, “I was so pleased to join Representatives Jan Schakowsky (D-IL), Sherrod Brown (D-OH), Hilda Solis (D-CA) and Barbara Lee (D-CA) in cosponsoring the Patriot Corporations for America Act.  As the automobile capital of the world, Detroit, Michigan is the heart of America’s industry.  With the auto industry moving operations and jobs overseas, Detroit’s status is in jeopardy if we fail to change course.  It is critical that we in the Congress take steps to keep jobs in America and to improve worker rights, healthcare, and safety.  That is why I am supporting this important piece of patriotic legislation.” 

Specifically, the Patriot Corporations for America Act provides preferential treatment for government contracts and a 5% tax reduction in the taxable income of corporations that:

• Produce at least 90% of their goods and services in the United States;
• Limit top management compensation to no greater than 10,000% that of their lowest-compensated full-time workers;
• Spend at least 50% of their research and development budgets in the United States;
• Operate a profit-sharing plan for all employees;
• Contribute at least 5% of payroll to a portable pension fund;
• Pay at least 70% of the cost of health insurance plans;
• Maintain neutrality in employee organizing drives; and
• Comply with federal regulations regarding the environment, workplace safety, consumer protections and labor relations.

###6-28-2006###