The Workforce Promotion and Access Act establishes a federal job guarantee program administered by the Secretary of Labor that provides competitive grants to states, local governments, tribal entities, and regional consortiums to create guaranteed employment opportunities for eligible residents. Participating entities must offer jobs that pay at least $17 per hour or the local prevailing wage, whichever is higher, along with comprehensive benefits including health insurance comparable to federal employee coverage, paid family and medical leave, paid sick leave, and paid training and career development opportunities. The bill funds the program through a new 0.1 percent tax on financial trading transactions (stocks, bonds, derivatives, and similar securities) beginning in 2025, with revenues deposited into a dedicated Job Guarantee Program Trust Fund. Eligible entities must have unemployment rates at or above 80 percent of the national rate, and grants last for three years with opportunities for renewal based on performance metrics. The legislation requires rigorous evaluation of program outcomes, including impacts on employment, wages, poverty rates, health, education, and incarceration, with annual reports published in a searchable public database.
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