Jobs and the Economy
Hardworking Americans deserve an economy that works for them. A strong economy, good jobs, and worker protections have made the United States a prosperous country and have ensured that the next generation can build better lives. One of my key priorities is the future of work in a world where technology is rapidly changing. Congress needs to prepare now for the future changes in the economy and job growth. As a co-chair of the Future of Work Task Force of the New Democrat Coalition, I work closely with other members of Congress so that we can better understand how technology will alter our economy and what it means for future generations. I want all Americans to have a place in the economy of the future, and I strongly believe it is Congress’s responsibility to understand how technology will change the ways Americans work.
You can find out more on the future of work here.
My Work on Jobs and the Economy
Rep. Bill Foster, D-Naperville, signed on to a letter from fellow Congressional Democrats calling on Gov. Bruce Rauner to alleviate the tax burden on Illinois residents by mitigating the effects of the tax cut bill, which Republicans passed last year.
The specific provision in the bill that Foster and the nine other representatives were concerned about was the cap on deducting state and local taxes, known as the SALT deduction, to $10,000 a year.
WASHINGTON, DC – Congressman Bill Foster (D-IL) called on Governor Bruce Rauner to alleviate the tax burden imposed by the Republican tax legislation that permanently capped the deduction for state and local taxes (SALT deduction). In a letter, Congressman Foster strongly encourages Governor Rauner to propose a plan to avoid the fiscal strain the federal legislation adds to hardworking Illinois families.
WASHINGTON, DC – Today, Congressman Bill Foster (D-IL) released the following statement on H.R. 6760 - Protecting Family and Small Business Tax Cuts Act of 2018:
WASHINGTON, DC – Yesterday, Congressman Bill Foster announced that two of his bills were adopted in the final version of the JOBS and Investor Confidence Act. The Options Markets Stability Act and the Cooperate with Law Enforcement Agencies and Watch Act would strengthen the financial system and help businesses access capital to grow the economy.
WASHINGTON, DC – Today, Congressman Bill Foster (D-IL) issued the following statement on the U.S. Supreme Court’s decision on Janus v. AFSCME:
Washington, DC – Today, Congressman Bill Foster (D-IL) issued the following statement on the failure of the Agriculture and Nutrition Act of 2018, also known as the Farm Bill:
WASHINGTON, DC – Today, Congressman Bill Foster (D-IL) and Congressman Mark Takano (D-CA) reintroduced a resolution to fund the Office of Technology Assessment (OTA). Senator Ron Wyden (D-OR) will lead the resolution in the Senate. The Office of Technology Assessment provided Congress with nonpartisan policy advice and identified cost-effective areas for future investment that saved taxpayers billions of dollars. It was defunded in 1995, but it still remains a legally authorized organization.
WASHINGTON, DC – Today, Congressman Foster’s amendment to the Volcker Rule Regulatory Harmonization Act passed the U.S. House. The amended legislation would strengthen the Volcker Rule within the Dodd-Frank Wall Street Reform and Consumer Protection Act by making the regulatory process more efficient. It would make the Federal Reserve the rulemaking agency, streamlining the process for updating the rule as new market conditions create new threats.
WASHINGTON, DC – Today, Congressman Bill Foster (D-IL) issued the following statement after the failure of the so-called Balanced Budget Amendment to the Constitution of the United States:
WASHINGTON, DC – This week, Congressman Bill Foster (D-IL) offered an amendment in the Financial Services Committee to make the Volcker Rule more effective. Currently, a committee of five regulators writes the rule, and each holds veto power. This rulemaking procedure has led to regulations that are delayed, inconsistent, and more complicated than necessary. The amendment would consolidate authority for future rulemaking at the Federal Reserve without altering the substance of the Volcker Rule.