Bill > S1409

This bill, titled the "Better Education and Skills Training for Americas Workforce Act," aims to incentivize employers to invest in job training for their employees and for new hires by creating two new tax credits. The first credit, the "Job Training Credit," allows employers to claim a credit equal to 100% of qualified training expenses for an eligible trainee, up to a maximum of $4,000 per trainee annually, provided the training leads to a recognized certificate or credential and is necessary for employment with the company; an "eligible trainee" is defined as someone unemployed for at least 90 days before training and not previously employed by the company. The second credit, the "Qualified Job Training Partnership Credit," offers a credit for investments made in formal or informal partnerships between businesses and educational institutions or labor organizations, where the goal is to train individuals in job-ready skills, with a total credit allocation cap of $1 billion, and these investments must also result in recognized certificates or credentials. The bill also allows for these investments to be eligible for direct grants from the Treasury Department in lieu of tax credits, and includes provisions to prevent double benefits, such as claiming both a credit and a deduction for the same expense.