Alabama 1st District U.S. Rep. Bradley Byrne joined a bipartisan group of his House colleagues and introduced legislation Thursday that would provide tax credits to employers for training and expenses necessary to help close the skills gap that exists between employers’ needs and employees in many industries.
The Career Advancement Through New Skills Act would create a tax credit for 25 percent 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 trainings to maintain or improve the skills of workers to meet the employer’s needs.
“As a Congress, we should always be looking for new ways to help Americans gain the skills they need to succeed in today’s 21st Century economy,” said Byrne. “Training programs are more important than ever before in connecting Americans with high paying jobs and closing the skills gap that is plaguing many industries today. Through this bipartisan legislation, we can make a real impact by encouraging employers to take a direct and active role in job training.”
“The nation’s skills gap is significant. Small businesses across the country report being unable to find qualified applicants and CEOs report shortages of workers for skilled, well-paying jobs,” added co-sponsor, Pennsylvania 5th District U.S. Rep. Glenn Thompson. “This bill would help narrow that gap by encouraging businesses to invest in the education and training of their employees, helping workers expand their skills while earning money and advancing their career, and giving employers the skilled workforce they need to build their businesses.”
Additional co-sponsors include Reps. Derek Kilmer and Randy Hultgren.