Public Works Employment Act

[AI summary unavailable — showing source text] Public Works Employment Act - Seeks to increase the antirecessionary effectiveness of the Public Works and Economic Development Act by creating jobs especially in the construction sector. Provides that the non-Federal share of costs in public works projects may be reduced or eliminated if the effective taxing and/or barrowing capacity of the applicant has been exhausted. Increases the funding for aid to projects under the Public Works and Economic Development Act from $250,000,000 to $500,000,000 for fiscal year 1975. Authorizes the Secretary of Commerce to make grants to applicants for public works projects beneficial to the community. Limits such grants to those areas experiencing actual or threatened high unemployment. Provides that the Federal share of a grant made for a project shall be 80 percent. Allows the Secretary to reduce or waive the non-Federal share under specified circumstances. Authorizes the payment of interest supplements to or on behalf of private entities. Extends specified programs of the Public Works and Economic Development Act thru 1976. Authorizes the Secretary of Commerce to provide financial assistance to federally assisted projects for which funds have …