Stimulus bumps up TAA funding
Published: October 26,2009
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.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Stimulus bumps up TAA funding”
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Silver Airways ordered to continue service
- Seafood R’evolution set to make Mississippi ‘the new culinary epicenter of the South’
- Bryant signs controversial abortion ban bill
- Two Delta groups getting economic development funding
- Pharma Pac lays off rest of workers; could end up owing state
- Plans unveiled for large shooting range on Coast
- Soybean yield more than doubles in less than a decade
- Ole Miss launches commitment to be 'climate neutral'
- Biloxi baseball project still alive but may be held for 2015
- Yarber could be sworn in today as new Jackson mayor