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Job Guarantee Program and New Financial Transaction Tax

This act establishes a federal grant program to guarantee employment for adults in areas facing high unemployment. These guaranteed jobs must offer a minimum wage of $17 per hour, paid sick and family leave, and health insurance benefits. The program is funded by introducing a new, small tax (0.1%) on most financial trading transactions, including stocks, bonds, and derivatives.
Key points
Job Guarantee: Any adult (18+) in a participating area who applies will be provided with employment.
High Labor Standards: Guaranteed jobs must pay at least $17 per hour and include paid sick leave, paid family leave, and health insurance comparable to federal employee plans.
Funding Mechanism: A new 0.1% tax is imposed on the value of most financial trading transactions (stocks, bonds, derivatives) to finance the job program.
Worker Support: The program provides paid training, career development, and supportive services like childcare and transportation assistance.
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Additional Information
Print number: 118_HR_8602
Sponsor: Rep. Watson Coleman, Bonnie [D-NJ-12]
Process start date: 2024-06-03
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

WPA Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8602.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-06-03.

What are the main provisions?

Key points include:

  • Job Guarantee: Any adult (18+) in a participating area who applies will be provided with employment.
  • High Labor Standards: Guaranteed jobs must pay at least $17 per hour and include paid sick leave, paid family leave, and health insurance comparable to federal employee plans.
  • Funding Mechanism: A new 0.1% tax is imposed on the value of most financial trading transactions (stocks, bonds, derivatives) to finance the job program.
  • Worker Support: The program provides paid training, career development, and supportive services like childcare and transportation assistance.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Watson Coleman, Bonnie [D-NJ-12].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Work and Welfare.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Labor Taxes Public Investments