tax reform workforce mobilityThe U.S. economy has lost 15 million jobs since February 2020 and the unemployment rate, while improving, stood at 11.1% for June 2020—a historically high level. Before the pandemic and the onset of the current recession, the unemployment rate was around 3.5%—a 50-year low.

Public and tax policy can facilitate workforce mobility, helping job hunters to become re-employed and employers to engage the talent needed for growth. Unfortunately, more recent legislation, such as the 2017 Tax Cuts & Jobs Act, has actually made mobility more costly and less attractive, by eliminating popular tax provisions widely utilized by companies and relocating employees.

On July 10, Worldwide ERC® Government Affairs sent letters signed by President and CEO Lynn Shotwell to Congressional leaders advocating for additional workforce mobility relief in the next economic stimulus package. The leaders are currently discussing the scope and contents of the package. On behalf of the mobility industry, Worldwide ERC® asked that Congress:

  • Clarify that small businesses that have loans forgiven under the Paycheck Protection Program (PPP) can still deduct covered expenses.
  • Allocate additional funds and allow use of remaining funds in the PPP to small businesses that have experienced a sharp drop in revenue.
  • Include a reinstatement of the moving expense deduction in the next economic stimulus package.
  • Provide a balanced approach to help provide employers with liability protections as they reopen workplace and relocate employees.

According to Worldwide ERC®, this request highlights crucial needs and the important contributions of the workforce mobility industry in our economic recovery as we work to bring businesses and their employees safely back to work. Read more here.

TRC Blog

Keep Exploring This Topic.

Get more expert insight on what matters most for your business -- keep checking out the TRC blog.

TRC Global Mobility to Move World Headquarters

TRC Global Mobility to Move World Headquarters

TRC Global Mobility (TRC) is preparing to move its world headquarters from downtown Milwaukee to the city’s south suburbs. TRC has occupied a historic mansion in Milwaukee’s lakeside Yankee Hill neighborhood since the 1980s. The new location, in Oak Creek, was...

New TRC Website Aims to Demystify Relocation

New TRC Website Aims to Demystify Relocation

Let me start by saying I’m not a big fan of company rebranding communications! Too often, they’re smarmy, self-congratulatory and full of inside baseball technical and marketing details of no interest to the audience. That audience can reasonably ask, “what’s in it...

Ready to make your relocation program even better? Let’s move.

You’ve got a destination. We’ve got the plan to get you there. Let’s get started.

Talk to a relocation specialist today

Man talking on a phone