Guaranteed Employment Act

[AI summary unavailable — showing source text] Guaranteed Employment Act - Sets forth definitions of terms used in this Act. Authorizes to be appropriated such sums as may be necessary for the purposes of this Act. States that any funds appropriated to carry out this Act which are not obligated prior to the end of the of the fiscal year for which such sums are appropriated shall remain available for obligation in any fiscal year may be expended during a period of two years from the date of obligation. Provides that not less than eighty percent of the funds appropriated under this Act in any fiscal year shall be apportioned by the Secretary of Labor among the States in an equitable manner, taking into consideration the proportion which the total number of unemployed persons, and of persons heading low-income families and unrelated low-income persons in each such State bears to such total numbers, respectively, in the United States and the remainder shall be available as the Secretary deems appropriate. Provides that the Secretary shall enter into arrangements with eligible applicants in accordance with the provisions of this Act in order to make financial assistance available for the purpose of providing employment for unemploye…