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House Bill Would Create Tax Credit For Worker Training

House Bill Would Create Tax Credit For Worker Training

H.R. 6694, the Investing in Tomorrow’s Workforce Act of 2018, introduced Aug. 31 by Rep. Anthony G. Brown, D-Md., would provide a credit equal to 40 percent of the increase in training expenses for high-demand jobs, or 20 percent for low-demand jobs.

Employers would be allowed a tax credit for increasing employee training expenses under a bill recently introduced in the U.S. House of Representatives.

H.R. 6694, the Investing in Tomorrow’s Workforce Act of 2018, introduced Aug. 31 by Rep. Anthony G. Brown, D-Md., would provide a credit equal to 40 percent of the increase in training expenses for high-demand jobs, or 20 percent for low-demand jobs. The increase in expenses would be determined by comparing expenses for the taxable year with the average expenses for the previous three years.

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