Investing in American Workers Act

Summary

Investing in American Workers Act This bill amends the Internal Revenue Code to allow 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 which is conducted by an area career and technical education school, a community college, or a labor organization; or a program which 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. 31 October 2017

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 31 October 2017

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 31 October 2017 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 31 October 2017

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 31 October 2017

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 31 October 2017

  Open at official source

Sponsors

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

Related records

• related to → Investing in American Workers Act
• related to ← Investing in American Workers Act