Oct 5, 2021 - Politics & Policy
Sen. Warner: U.S. must "rethink" how it invests in human capital
The United States must rethink its investment in human capital, Sen. Mark Warner (D-Va.) said at an Axios virtual event on Tuesday.
Why it matters: Warner's remarks come amid a broader discussion about workforce development in the Senate and how investment in job training may play a vital role in the economy's recovery.
Driving the news: There is an urgent need for the U.S. government and companies to invest in retraining the workforce, but job training remains underfunded at the federal level, Axios' Erica Pandey writes.
- Warner expressed uncertainty on whether the reform will be included in the massive reconciliation bill, saying, "I think workforce may be the area that is the most left out."
What they're saying: "We've lived in a world over the last 100 plus years where there was shortage of capital but [an] abundance of workers," Warner said. "We didn't treat workers very well."
- "We need to be thinking much broader about changing the tax, accounting and reporting requirements around companies that invest in human beings," he added.
- "I think regardless of what we end up with on reconciliation, we're going to have to come back and revisit this workforce development issue."