# The ASSET Act: Making Apprenticeships More Accessible

This bill creates a new federal funding program to help small and medium-sized businesses hire and train apprentices. Right now, many smaller companies don't participate in apprenticeship programs because they lack the money and resources to set them up, even though these programs can help them find skilled workers. The ASSET Act would provide grants and financial support to organizations that help employers start or expand apprenticeships, particularly targeting businesses that might otherwise be left out of the apprenticeship system.

The money would go to various organizations—like workforce development agencies, training providers, industry groups, and labor unions—that work directly with employers. These organizations could use the funds to cover the actual costs that small businesses face when running an apprenticeship, such as paying experienced workers to mentor apprentices, covering classroom instruction fees, or helping pay apprentices during their training periods. The bill also includes money for technical assistance, meaning experts would help small business owners navigate the paperwork and process of getting their apprenticeship programs officially registered.

A key focus of this bill is reaching people who typically struggle to find good jobs: women and minorities in trades where they're underrepresented, veterans, people with disabilities, formerly incarcerated individuals, and people experiencing homelessness. The bill also emphasizes apprenticeships in social service fields like childcare and elder care, which often have worker shortages. By lowering the financial barriers for small employers and targeting underrepresented groups, the bill aims to create more pathways for people to learn skilled trades while giving businesses the trained workers they need.

ASSET Act

Trahan, Lori

Apprenticeship Support for Small Employers and Teams Act or the ASSET Act This bill directs the Office of Apprenticeship of the Department of Labor to award grants, contracts, or cooperative agreements to certain eligible entities to encourage employer participation in apprenticeship programs. Entities that receive funding under this bill must use the funds to encourage participation of small- and medium-sized businesses in apprenticeship programs.