Investing in Tomorrow’s Workforce Act of 2019
- Last Action
- 1/17/2019
Actions
- 2019-01-17Referred to the House Committee on Ways and Means.
- 2019-01-17Introduced in House
- 2019-01-17Introduced in House
CRS Summary
As of 2019-01-17 (00)
Investing in Tomorrow's Workforce Act of 2019
This bill allows a business-related tax credit for employers who increase spending on worker training programs compared to their average training expenses for the three previous years.
The tax credit is equal to the sum of (1) 40% of the increase for high-demand occupation training expenses, and (2) 20% of the increase for low-demand occupation training expenses. The expenses must be for full-time employees whose compensation does not exceed $82,000 for the year.
A "high-demand occupation training expense" is designed to lead to employment in an occupation that is expected to experience not fewer than 20% occupational openings over a specified 10-year period. A "low-demand occupation training expense" is designed to lead to employment in any other occupation.
Cosponsors (4)
- Gilbert Cisneros (D-CA)
- SHEILA JACKSON LEE (D-TX)
- Susan Wild (D-PA)
- Angie Craig (D-MN)
Subjects
- Business expenses
- Employee hiring
- Employment and training programs
- Income tax credits
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.