Employment Law Updates | New Proposed Legislation
February 12, 2010
“Cash For Jobs” Bill to Reallocate $10B of TARP Funds for Wage Subsidies and Green Jobs
Strengthening Our Economy Through Employment and Development (SEED) Act
S. 2952, 1/26/2010
The “Strengthening Our Economy Through Employment and Development (SEED) Act,” informally known as “Cash for Jobs,” would take $10 billion in existing funds from the Troubled Asset Relief Program (“TARP”) and re-allocate it to creating jobs in the private and public sectors. This means the initiative would create jobs without adding to the national debt or deficit, according to the bill’s sponsor, U.S. Sen. Al Franken (D-Minn.).
Sen. Franken’s ‘Cash for Jobs’ plan is based on a successful 1983-1987 Minnesota program, the Minnesota Emergency Employment Development program, that got 7,400 workers back on the job in its first six months. Franken’s…
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View a PDF of the proposed legislation
