Since the introduction of workplace computers in the 1970s, policymakers have been racing to outpace the workforce demands of the information age. To address concerns, policymakers have promoted an expansion of skills training to help workers keep up in the changing economy. Because the way people learn, work, and live is transforming, so should public policy. For these reasons, the time is now to boldly reimagine a workforce system that ensures equitable employment outcomes, not just matching skills with any job. This report calls for a workforce redesign and proposes building a new future-proof Workforce Equity Trust Fund (WETF) that will enshrine fundamental workforce protections into law. Specifically, this report offers four policy pillars to help frame and support building a new workforce equity system: (1) Broaden the share of economic risks by requiring employers of a certain size to pay into the WETF; (2) Make standard and portable a suite of wraparound services and employment benefits for every worker through the WETF; (3) Improve workforce analytics by creating an accountability dashboard for multiple measures of job quality; and (4) Govern the WETF by a multi-stakeholder partnership comprising business, labor, and the public. This report provides the theoretical framing for placing equity concerns at the center of policymaking in workforce development. It also offers the conceptual underpinnings necessary to replace the norms that currently govern workforce development with a corresponding set of equity-focused policy and performance indicators.