Investors with $ 1.6 Trillion in Assets Push Congress to Support Paid Vacation

NEW YORK, Sept. 28 (Reuters) – Investors with assets worth more than $ 1.6 trillion on Tuesday urged Congress to adopt a federal policy on paid family and medical leave as part of the plan. President Joe Biden’s $ 3.5 trillion spending, according to a letter seen by Reuters.

The more than 100 investors, which include public pension funds, state treasurers and asset managers, said a paid vacation policy would help improve the U.S. economy and improve business performance in the world. which they own shares.

“It’s a matter of economic security,” said Wisconsin state treasurer Sarah Godlewski. “We have seen through the pandemic that the United States without this policy has taken women, for example, from the workforce.

“This is why, as treasurers and institutional investors, we are joining the table, because we have seen how this has impacted communities and investments. “

Trillium Asset Management, a pioneer in green investing, and the Interfaith Center on Corporate Responsibility, organized the letter, which was sent to Congressional leaders, including U.S. House of Representatives Speaker Nancy Pelosi , and US Senate Majority Leader Chuck Schumer.

“We believe that paid time off is a critical part of fostering an economy where everyone can thrive,” said Kate Monahan, director of shareholder advocacy at Trillium.

Lawmakers have tried to avoid a government shutdown and agree on a tax and social spending program. Some leading Democrats have said the $ 3.5 trillion price tag for the social spending program is too high. Read more

The letter to investors says the policy should include time off for new parents, for people who need to care for a sick family member and to treat their own critical illness.

Reporting by Jessica DiNapoli; edited by Barbara Lewis

Our Standards: Thomson Reuters Trust Principles.

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