Twenty-First Century Manufacturing Skills and Jobs Act of 2014 - Directs the Secretary of the Treasury, on a quarterly basis, to make payments to an eligible community college in an amount equal to the aggregate new manufacturing job withholding matches for qualified training provided to job trainees who are U.S. citizens. Defines "qualified training" as education or training to provide an individual with the education or skills necessary to perform the job for which such individual will be employed or with licenses or certificates necessary for such employment. Requires that any job for which a trainee is hired be a new job.
Defines "eligible community college" as a public institution of higher education: (1) at which the majority of degrees awarded are two-year associate's degrees that are acceptable for full credit toward a baccalaureate degree, (2) that is located in a state that has a state new manufacturing jobs tax credit program in effect, and (3) that participates in such program by having in effect a contract that meets requirements of such program.