Reps. Hultgren, Thompson, Byrne, Kilmer Introduce Bipartisan Bill Empowering Small Businesses to Invest in Employee Training
Washington, DC – Today Congressmen Randy Hultgren (R-IL-14), Mike Thompson (D-CA-05), Bradley Byrne (R-AL-01) and Derek Kilmer (D-WA-06) introduced the Career Advancement Through New Skills Act, legislation that would incentivize employers to invest in their employees, giving them the necessary training to close the skill gap that exists between employers’ needs and employees in many industries.
“One the greatest challenges facing workers today is connecting the skills and knowledge they have with the jobs that actually exist. Similarly, small businesses have trouble finding qualified applicants for the jobs of the 21st century. This bill encourages these employers to put resources toward training and educating workers for the jobs that exist now,” said Rep. Hultgren. “Let’s help the backbone of our economy—small businesses—create opportunity for their workers in order to grow.”
The legislation introduced today would create a tax credit for 25% of the first $5,000 that an employer spends on qualified education and training expenses for an employee. These qualified education and training expenses include the cost of programs or trainings to maintain or improve the skills of workers to meet the employer’s needs.
“The nation’s skills gap is significant. Small businesses across the country report being unable to find qualified applicants and CEOs report shortages of workers for skilled, well-paying jobs,” said Rep. Thompson. “This bill would help narrow that gap by encouraging businesses to invest in the education and training of their employees, helping workers expand their skills while earning money and advancing their career and giving employers the skilled workforce they need to build their businesses.”
“As a Congress, we should always be looking for new ways to help Americans gain the skills they need to succeed in today’s 21st Century economy,” said Rep. Byrne. “Training programs are more important than ever before in connecting Americans with high paying jobs and closing the skills gap that is plaguing many industries today. Through this bipartisan legislation, we can make a real impact by encouraging employers to take a direct and active role in job training.”
“Giving seasoned employees the opportunity to learn and build new skills while on the job helps our economy grow,” said Rep. Kilmer. “The federal government can and should be a partner in supporting classes and training offered by companies that can give more stability to their workers and put them in a position to earn more money.”