WASHINGTON, D.C. — U.S. Rep. Rick Boucher is working to assist the 300 workers who are expected to lose their jobs
as a result of the closure of the Bassett Furniture Plant in Bassett, Va.
Currently, Boucher is coordinating with Bassett Furniture officials in the submission of a federal petition to the U.S. Department of Labor (DOL) for worker’s assistance. Once the petition is filed, Boucher will work with the DOL to expedite the award of Trade Adjustment benefits which will be provided directly to the terminated workers.
The funds which Boucher is working to secure will provide job outreach services, career counseling, job search and job development assistance, a range of job training, including classroom training (such as adult basic education and GED completion), meal allowances and transportation assistance. Boucher is also seeking health insurance assistance under the Health Coverage Tax Credit (HCTC) program, and displaced workers over 50 years of age may also qualify for additional aid through the Alternative Trade Act Assistance (ATAA) program.
When plans to close the Bassett Furniture plant were made known, Boucher immediately initiated efforts to identify assistance for workers who may lose their jobs. “Federal funding will be of critical importance to the workers who will be affected by the closure of the Bassett Furniture facility. These workers deserve our help. I am hopeful that the necessary paperwork can expeditiously be filed and that the U.S. Department of Labor will quickly approve my request to provide the job retraining assistance which will lessen the burden of this closure,” Boucher said.
Boucher explained that the funding which will be requested would be furnished by the U.S. Department of Labor under the Trade Adjustment Assistance Program, which provides assistance for workers who have lost their jobs due to foreign imports or plant relocations outside the United States. In addition to job retraining benefits, the program also provides up to 52 weeks of additional unemployment insurance benefits beyond the normal 26 weeks available to all workers who lose their jobs. The additional assistance enables unemployed workers to continue searching for work or to continue participation in training programs.
Alternative Trade Adjustment Assistance (ATAA) is a federal benefit program for workers over the age of 50 years, and who qualify for TRA benefits. In addition to the traditional TRA benefits, workers who qualify under the ATAA program would be eligible for a federal subsidy of up to $10,000 over a two-year period if the worker regains employment within 26 weeks of being dislocated from Bassett Furniture and if the new salary is less than $50,000 and less than his or her former salary.
Under the health care benefit, displaced workers would have two options. They could claim a tax credit equal to 65 percent of the health insurance premiums they have paid since becoming eligible for the program at the time they file their annual tax returns, or they could choose to enroll in the Advance Tax Credit Program. In this program, the worker would pay the IRS 35 percent of his or her premium each month, and the IRS would pay the full premium monthly to the health insurance company. In order to qualify for the health insurance benefit, the displaced worker must remain enrolled in one of the eligible health insurance programs at his or her own expense until Trade Act assistance is approved. Once Trade Act assistance is obtained, the IRS will mail information to each qualified worker on HCTC explaining the program’s options and enclosing enrollment information.
“The TRA program is a comprehensive job retraining initiative which was created to assist workers who have lost their jobs due to increased global market competition, and I am hopeful that we will succeed in making the benefits available to displaced employees of Bassett Furniture,” said Boucher.
