; and (ii) to not more than 15 local entities to carry out a jobs guarantee program in accordance with section 5. (B) Amount of grant In determining the amount a grant awarded to a local entity under subparagraph (A), the Secretary of Labor shall ensure that the grant amount is adequate to reach each community served by the local entity. (b) Mandatory funding (1) In general Subject to paragraph (2), there are authorized to be appropriated, and there are appropriated (in addition to any other amounts appropriated to carry out this Act and out of any money in the Treasury not otherwise appropriated) such sums as may be necessary to carry out this Act. (2) Competitive grant programs The amount of funds that shall be made available for the competitive grants under subsection (a)(2) for a fiscal year shall be equal to the result obtained by multiplying— (A) the difference between— (i) the number of individuals counted under the U–6 measure of unemployment and underemployment most recently published by the Bureau of Labor Statistics of the Department of Labor; and (ii) the number of individuals participating in the program carried out under subsection (a)(1); and (B) average cost for each participant under such program. 4. Federal subsidized employment program Each grantee receiving funds under paragraph (1) or (2)(A)(i) of section 3(a) shall carry out, or expand, a program that provides access to federally subsidized employment for all eligible individuals as follows: (1) Participating employers (A) Amount of subsidies A grantee shall provide each participating employer with a subsidy in an amount that— (i) covers up to 150 percent of the wages that the employer pays to eligible individuals who are employed in a position covered by a collective-bargaining agreement in effect with the employer