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ETA News Release: [10/09/2003]
Contact Name: Chad
Aleshire
Phone Number: (202) 693-2703
Labor Department Issues Trade Fund Estimates and First
Allocation to States
WASHINGTON—The U.S.
Department of Labor has issued new guidelines for the disbursement of training
funds provided for under the Trade Act of 2002 that allows states to make
better planning estimates. It has also provided the States with an initial
allotment of $21.2 million under the Continuing Resolution for trade-related
training activities.
“The continuing resolution signed by President Bush enables the
Department to distribute this first allocation of $21.2 million dollars in
training funds as part of our efforts to improve the management of the program
and enable states to better serve workers affected by trade-related
layoffs,” said Secretary of Labor Elaine L. Chao.
Under the new planning estimates, 75% of available TAA training funds,
or $165 million, will be distributed to states using a set formula. The
remaining 25% of the funds, or $55 million, will be reserved for states
experiencing large, unexpected layoffs. These reserve funds will be distributed
after states submit a grant request and demonstrate that 50% of allocated
formula funds have been expended.
The previous system of exclusively grants-based distribution proved
inefficient, lengthy, and cumbersome, making it difficult for states to plan
and manage resources for training trade-affected workers.
The first payment of $21.2 million under this new procedure was made to
states last week.
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