Home » NEWS » Manufacturing » Stimulus bumps up TAA funding

Stimulus bumps up TAA funding

The U.S. Department of Labor has unveiled $447 million in funding allocations for Trade Adjustment Assistance (TAA) for states to assist workers who lose their jobs due to outsourcing and foreign trade. These are the initial allocations for fiscal year 2010 and represent approximately 65 percent of the total amount available for TAA for this year. The remaining funds are being held in reserve by the Labor Department for distribution as needed throughout the year.

The TAA program seeks to provide workers with the opportunity to obtain the skills, resources and support needed to become re-employed. These funds will be used to provide career training and employment and case management services, and to pay for associated administrative costs. States will receive funds according to these allocations once the department receives its fiscal year 2010 congressional appropriation.

Mississippi’s total allocation for FY2010 is approximately $4.7 million.

The American Recovery and Reinvestment Act of 2009 included a major expansion and reform of the TAA program and authorized an increase in the maximum amount of TAA funds that may be used for training nationwide from $220 million to $575 million. The Recovery Act also modified the formula for calculating how these TAA funds are distributed to states in order to target funding to areas most in need. Fiscal year 2010 is the first during which the expanded benefits that were included in the Recovery Act will be fully realized.

About Wally Northway

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *