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# Summary of H.R. 7886: Humphrey-Hawkins 21st Century Full Employment and Training Act of 2024 This bill establishes a National Full Employment Trust Fund to create direct public service employment for unemployed and underemployed Americans. The Trust Fund would be financed through a new tax on securities transactions (ranging from 0.06 percent to 0.2 percent depending on security type), recaptured unemployment insurance benefits for program employees, and taxes paid by those workers. The bill creates an employment program administered by the Department of Labor that makes grants to government agencies, nonprofits, and other eligible entities to fund job creation projects addressing community needs like infrastructure, housing, childcare, education, and environmental restoration. Grant recipients must ensure at least 75 percent of funding goes to worker wages and benefits, employ workers at comparable public-sector wages with health insurance, and prioritize hiring disadvantaged individuals (at least 35 percent of workers employed). The program directly affects unemployed workers seeking employment, communities with high joblessness, and grant-receiving organizations. The bill establishes multiple support offices within the Labor Department, including technical assistance, dispute resolution, and job placement services. It also creates provisions allowing the Federal Reserve to loan funds to the Trust Fund if needed to prevent unemployment from rising significantly. The bill takes effect 180 days after enactment and includes ongoing funding mechanisms and annual reporting requirements to Congress.

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