[Washington, D.C.] – U.S. Senators Dick Durbin (D-IL) and Barack Obama (D-IL) introduced legislation to reward companies that invest in American jobs, pay decent wages, provide good benefits, and support their employees when they are called to active duty. Durbin and Obama said the Patriot Employer Act of 2006 would provide a tax credit to companies that make a commitment to American workers.

“When companies make headlines today it is often for all the wrong reasons: fraud, tax avoidance and profiteering,” Durbin said. “Americans have had enough with a corporate culture that rewards bad behavior and ignores the well being of workers. It is time for Patriot Employers to be recognized for doing right by their workers even while they do well for their customers and shareholders.”

“The Patriot Employers Act says to US employers, if you do the right thing and create jobs here at home that pay good wages and provide health care and retirement benefits, we'll give you a tax break. This simple idea will reward companies committed to investing in America by making them more competitive in this changing global economy,” said Senator Obama.

The Patriot Employers legislation would provide a tax credit equal to 1% of taxable income to employers that:

Invest in American jobs, by maintaining or increasing the number of full-time workers in America relative to the number of full-time workers outside of America AND by maintaining corporate headquarters in America if the company has ever been headquartered in America.

Pay decent wages, by paying each worker an hourly wage that would ensure that a full-time worker would earn enough to keep a family of three out of poverty (at least $8.00 per hour).

Prepare workers for retirement, by providing either a defined benefit plan OR a defined contribution plan that fully matches at least 5% of worker contributions for every employee.

Provide health insurance, by paying at least 60% of each worker’s health care premiums.

Support the troops, by paying the difference between regular salary and military salary for all National Guard and Reserve employees who are called for active duty and by continuing their health insurance coverage for the Guard member and his or her family.