Investing in American Workers Act

This bill would create a new federal tax credit for employers that pay for training of lower-paid employees that leads to a recognized credential, such as an industry certificate, apprenticeship certificate, license, or college degree. The credit would equal 20 percent of the amount an employer's training spending exceeds its inflation-adjusted average from the prior three years, or 10 percent of training spending if the employer had no such spending in one of those years. Qualifying training could be offered through registered apprenticeships, approved training programs, community colleges, career and technical schools, labor organizations, or employer and industry programs. Small businesses with under $5 million in gross receipts and certain tax-exempt organizations could apply up to $250,000 of the credit against payroll taxes. The Treasury would also create a simplified filing method for small employers, and the credit would apply to tax years beginning after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Mark R. Warner Democrat sponsor
• 0 cosponsors