U.S. Department of Labor releases more than $16 million to assist trade-
affected workers in Michigan
WASHINGTON – U.S.Secretary of Labor Elaine L. Chao today announced the release of $16,005,005 to assist approximately 7,530 trade-affected workers in Michigan. The funding, provided through the Trade Adjustment Assistance (TAA) program, will enable the state to continue providing training to workers certified as eligible to receive TAA benefits.
“These funds will help America’s workers access the education and training opportunities needed to quickly find new, good-paying jobs in today’s knowledge-based economy,” said Secretary Chao.
The Health Coverage Tax Credit, which pays 65 percent of the premium for qualified coverage, is another program benefit. In addition, certain older workers who become re-employed quickly may receive a wage subsidy of up to $10,000 under the Alternative Trade Adjustment Assistance (ATAA) program in lieu of training.
Congress allocates approximately $220 million annually for TAA training. Today’s disbursement of funds comes from resources maintained in a reserve account the U.S. Department of Labor set up in fiscal year 2004. Each year, the department’s Employment and Training Administration allocates 75 percent of available TAA funds, or $165 million, on October 1. The remaining 25 percent of funds are reserved for states experiencing large, unexpected layoffs during the year. States may request additional money from the reserve account after they have spent at least 50 percent of the allocated TAA funds.
Today’s infusion adds to the initial $13,063,084 allocation Michigan received in October.
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