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To amend the Internal Revenue Code of 1986 to provide employers with a credit against tax for increasing employee training.

USA115th CongressHR-6694| House 
| Updated: 8/31/2018
Anthony G. Brown

Anthony G. Brown

Democratic Representative

Maryland

Cosponsors (2)
Sheila Jackson Lee (Democratic)Susan Wild (Democratic)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Investing in Tomorrow's Workforce Act of 2018 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.
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Timeline
Aug 31, 2018
Introduced in House
Aug 31, 2018
Referred to the House Committee on Ways and Means.
  • August 31, 2018
    Introduced in House


  • August 31, 2018
    Referred to the House Committee on Ways and Means.

Taxation

Business expensesEmployee hiringEmployment and training programsIncome tax credits

To amend the Internal Revenue Code of 1986 to provide employers with a credit against tax for increasing employee training.

USA115th CongressHR-6694| House 
| Updated: 8/31/2018
Investing in Tomorrow's Workforce Act of 2018 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Aug 31, 2018
Introduced in House
Aug 31, 2018
Referred to the House Committee on Ways and Means.
  • August 31, 2018
    Introduced in House


  • August 31, 2018
    Referred to the House Committee on Ways and Means.
Anthony G. Brown

Anthony G. Brown

Democratic Representative

Maryland

Cosponsors (2)
Sheila Jackson Lee (Democratic)Susan Wild (Democratic)

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business expensesEmployee hiringEmployment and training programsIncome tax credits