Bipartisan Bill Would Incentivize Employers to Invest in Workforce Training
The Career Advancement Through New Skills Act, would incentivize employers to invest in training their workforce, giving them the necessary training to close the skill gap that exists between employers’ needs and employees in many industries.
The legislation would create a tax credit for 25% of the first $5,000 that an employer spends on qualified education and training expenses for an employee. These qualified education and training expenses include the cost of programs or training to maintain or improve the skills of workers to meet the employer’s needs.
“Giving seasoned employees the opportunity to learn and build new skills while on the job helps our economy grow,” said Rep. Kilmer. “The federal government can and should be a partner in supporting classes and training offered by companies that can give more stability to their workers and put them in a position to earn more money.”
See HR 4088 by Congressmen Mike Thompson (CA-05), Bradley Byrne (AL-01), Derek Kilmer (WA-06), and Randy Hultgren (IL-14) here