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Job Guarantee Program and Financial Transaction Tax to Boost Workforce Access

This law establishes a grant program to guarantee jobs for unemployed individuals in specific areas, providing a minimum wage of $15/hour, comprehensive health benefits, and paid leave. The program is funded by a new, small tax (0.1%) imposed on financial trading transactions involving securities and derivatives. The goal is to enhance employment and financial security for citizens by ensuring stable, well-compensated jobs.
Key points
Guaranteed employment for unemployed individuals in designated areas, with a minimum wage of $15/hour or the prevailing wage, whichever is higher, plus full benefits.
All guaranteed jobs must provide health insurance comparable to Federal employee benefits and paid family/sick leave.
Introduction of a new 0.1% tax on stock and derivative trading transactions to fund the job guarantee program.
Access to up to 8 weeks of paid training and supportive services like childcare and transportation for program participants.
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Additional Information
WPA Act
Print number: HR 1388
Sponsor: Rep. Watson Coleman, Bonnie [D-NJ-12]
Process start date: 2021-02-25