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Emergency Economic and Workforce System Resiliency Act
12/31/2022, 5:06 AM
Summary of Bill HR 4490
The bill proposes several key provisions to help strengthen the economic and workforce systems in times of crisis. One of the main components of the bill is the establishment of a National Economic and Workforce Resiliency Council, which would be responsible for coordinating efforts to support businesses and workers during emergencies. This council would work with federal, state, and local agencies to develop strategies for economic recovery and workforce development.
Additionally, the bill includes provisions to provide financial assistance to businesses and workers affected by emergencies. This assistance could come in the form of grants, loans, or other forms of support to help businesses stay afloat and workers stay employed during times of crisis. Overall, the Emergency Economic and Workforce System Resiliency Act aims to create a more resilient economic and workforce system that can better withstand and recover from emergencies. By providing support to businesses and workers, the bill seeks to minimize the economic impact of crises and help communities bounce back more quickly.
Congressional Summary of HR 4490
Emergency Economic and Workforce System Resiliency Act
This bill requires the Department of Labor to award to states (1) temporary five-year supplemental formula grants for emergency layoff aversion, workforce training, and other assistance to reduce and prevent unemployment and limit the impact of disruptions on labor markets; and (2) planning and implementation grants for innovative layoff aversion models. A state receiving a grant under the bill must establish an advisory council to oversee and assess the performance of activities carried out under such grants.
The bill also requires the Departments of Commerce and Labor to jointly establish a federal interagency task force to (1) identify any challenges that a state or local area receiving funds under this bill has had to overcome; (2) collect and disseminate best practices and develop and recommend policies at the federal level to support ongoing efforts to limit the impact of market disruptions on workers, employers, and industry sectors or occupations; (3) establish a framework for a state receiving a grant under the bill to measure employer satisfaction for activities funded under it; and (4) establish the minimum standards of job quality that an employer is required to meet as a condition of receiving assistance under the bill.
