Investing in American Workers Act

Summary

Investing in American Workers Act This bill allows a business-related tax credit for employers who increase worker training expenditures. The credit is equal to 20% of the excess of (1) the qualified training expenditures for the year, over (2) the average of the adjusted qualified training expenditures for the three previous years. If the employer had no qualified training expenditures in any one of the three previous years, the credit is equal to 10% of the adjusted qualified training expenditures for the year. The credit applies to expenditures for the training of non-highly compensated employees (annual compensation does not exceed $82,000). The training must result in the attainment of a recognized postsecondary credential and be provided through an apprenticeship program; a program of training services that is included on a list of eligible training providers that states are required to maintain under the Workforce Innovation and Opportunity Act; a program that is conducted by an area career and technical education school, a community college, or a labor organization; or a program that is sponsored and administered by an employer, industry trade association, industry or sector partnership, or labor organization. Certain small businesses and tax-exempt organizations may apply the credit against payroll taxes, subject to specified limits and requirements. Eligible small businesses may also apply the credit against the alternative minimum tax.

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Timeline

1. 28 April 2021

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 28 April 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 22 March 2022

   Committee

   Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-620.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 28 April 2021 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 28 April 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 28 April 2021

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 28 April 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Warner, Mark R. [D-VA] · D · Sponsor
• Sen. Stabenow, Debbie [D-MI] · D · Sponsor
• Sen. Casey, Robert P., Jr. [D-PA] · D · Sponsor
• · ssbk00 · Standing
• · ssfi00 · Standing

Related records

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