Bill > HR6752

This bill, the Investing in American Workers Act, proposes to create a new tax credit for employers who invest in the training of their non-highly compensated employees, meaning employees who do not earn above a certain threshold. The credit would be calculated as 20% of the qualified training expenditures for the year, minus the average of such expenditures over the previous three years, with a special rule for businesses with no prior training expenses. Qualified training is defined as programs leading to a recognized postsecondary credential, which can include industry-recognized certificates, apprenticeship completion certificates, state or federal licenses, or associate or bachelor's degrees, and must be provided through registered apprenticeship programs, listed workforce innovation programs, programs run by career and technical education schools, community colleges, or labor organizations, or employer-sponsored programs. The bill also allows for certain small businesses and tax-exempt organizations to elect to apply a portion of this credit against their payroll taxes, up to a limit of $250,000, and mandates simplified filing procedures for small businesses with less than $5 million in annual gross receipts.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/6752/all-info