Today, Rep. Cindy Axne (IA-03) joined a bipartisan group of lawmakers to introduce legislation that encourages and incentivizes American businesses to invest in workforce training programs for their employees.
The Investing in American Workers Act of 2021 would establish a 20% tax credit for employer investments in worker training. Qualifying investments include apprenticeship programs in new and emerging industries, programs conducted by career and technical education schools, community colleges, labor organizations, and industry partnerships.
“A four-year college degree isn’t the only pathway to prosperity, nor is it the only way to acquire the skills needed to be successful. When a company invests in high-quality skills and workforce training programs for their employees, both the company and the worker succeed,” said Rep. Axne. “I’m proud to join my colleagues in introducing the Investing in American Workers Act to encourage companies to get their workers the skills they need to thrive in the modern economy.”
According to the Council of Economic Advisers, the percentage of workers receiving employer-sponsored training fell 42% between 1996 and 2008.
The Investing in American Workers Act reverses this trend by targeting those earning less than $82,000 annually to receive employer-sponsored training – upskilling workers and supporting the continued success of small and mid-sized business that form the backbone of the American economy.
The legislation was introduced today by Rep. Raja Krishnamoorthi (IL-08) and co-led by Reps. Axne, Tom Emmer (MN-06), Dan Meuser (PA-09), Abigail Spanberger (VA-07), Susan Wild (PA-07), and Jeff Van Drew (NJ-02).
Senator Mark Warner of Virginia is the lead sponsor of companion legislation in the Senate.
Original source can be found here
