Invest in American Workers Act of 2004

The Invest in American Workers Act of 2004 (H.R. 5030) was designed to expand federal support for workers whose jobs were displaced by international trade, specifically targeting those in the service and high-technology sectors. The bill proposed extending Trade Adjustment Assistance (TAA) to include employees in fields like information technology who lost their jobs due to outsourcing or increased foreign competition.

For affected citizens, the bill would have increased financial assistance for health insurance premiums and allowed unemployed individuals to withdraw funds from their IRAs penalty-free to pay for healthcare. Additionally, it sought to provide grants for communities to develop economic diversification plans and offered certain veterans more flexibility in using their Montgomery GI Bill education benefits. Although introduced in the 108th Congress, the bill did not advance past the committee stage and did not become law.