New Deal for a New Economy Act - Directs the Secretary of the Treasury, from unobligated funds under the Emergency Economic Stabilization Act of 2008 (EESA), to make specified sums available for FY2010-FY2012 to the Secretary of Education, the Attorney General, the Secretary of Homeland Security (DHS), and the Secretaries of Commerce, Labor, the Interior, and Agriculture.
Requires: (1) the Secretary of Education to allocate, and each eligible local educational agency in the state to receive, funds in proportion to amounts received under the Elementary and Secondary Education Act of 1965; and (2) a state to make and distribute the amount allocated to it within 90 days of receipt. Authorizes the use of funds to hire new employees, rehire employees laid off during the year prior to enactment, continue to employ employees scheduled to be laid off as a result of reduced budgets, and prevent furloughs scheduled as a result of reduced budgets.
Directs: (1) the Attorney General to award grants to state, local, or tribal law enforcement agencies through the Community Oriented Policing Services (COPS) program to hire, rehire, continue to employ, and prevent furloughs of police officers; (2) the Secretary of DHS, through the Administrator of the United States Fire Administration, to award grants through the Staffing for Adequate Fire and Emergency Response (SAFER) grant program to hire, rehire, continue to employ, and prevent furloughs of firefighters; (3) the Secretary of Commerce to award grants to states, cities or other political subdivisions or a consortium of such subdivisions, or Indian tribes, to assist in maintaining basic government services; and (4) the Secretaries of the Interior and Agriculture to fund specific public works projects in national parks and through the National Forest Service, respectively.
Establishes in the Department of Labor a New Economy Grant Program, to provide grants for the creation of new jobs on specific public works projects. Limits funding under this Act's Departments of Labor, the Interior, and Agriculture programs to individuals who meet specified criteria. Bars displacement of existing employees. Sets forth requirements regarding the use of funds, the maximum employment period, wages, reporting, and expedited administration.