H.R.5204 - 21st Century Full Employment and Training Act

To establish the National Full Employment Trust Fund to create employment opportunities for the unemployed. view all titles (2)

All Bill Titles

  • Official: To establish the National Full Employment Trust Fund to create employment opportunities for the unemployed. as introduced.
  • Short: 21st Century Full Employment and Training Act as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
05/04/10
 
 
 
 
 
 
 

OpenCongress Summary

This bill is designed to ensure full employment (4% unemployment rate) after 10 years. It sets a series of unemployment targets that, if not met, would trigger the disbursement of funds from a "National Full Employment Trust Fund," which would be made up of revenue from a new financial transactions tax on financial corporations. The funds would be used for a direct jobs program that would immediately place unemployed people in public, non-profit and small business jobs in areas hardest hit by unemployment.
OpenCongress bill summaries are written by OpenCongress editors and are entirely independent of Congress and the federal government. For the summary provided by Congress itself, via the Congressional Research Service, see the "Official Summary" below.

Official Summary

21st Century Full Employment and Training Act - Directs the Secretary of Labor to establish a Full Employment National Trust Fund. Amends the Internal Revenue Code to impose a tax on certain covered securities transactions, payable by trading facilities that deal in such transactions. Requi

Official Summary

21st Century Full Employment and Training Act - Directs the Secretary of Labor to establish a Full Employment National Trust Fund. Amends the Internal Revenue Code to impose a tax on certain covered securities transactions, payable by trading facilities that deal in such transactions. Requires amounts collected to be deposited into the Fund for:
(1) Employment Opportunity Grants to states, local governments, and Indian tribes for job creating activities in communities where the rate of unemployment is higher than a specified graduated percentage for a number years; and
(2) the Secretary to fund Workforce Investment programs. Directs the Secretary to convene a national employment conference to bring together leaders of small and larger business, labor, government, and other parties to discuss employment, with particular attention to structural unemployment and the plight of disadvantaged youth.

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