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Tax Credits for Companies Investing in Worker Training

This act introduces a tax credit for companies that invest in training their employees. This aims to encourage employers to improve the skills of their workforce, potentially leading to better job opportunities and higher incomes for citizens. Businesses can deduct a portion of training costs from their taxes.
Key points
Companies can receive a tax credit of 20% of qualified worker training expenditures if these expenses exceed the average of the preceding three years.
Training must lead to a recognized credential, license, or degree and be provided through accredited institutions or programs.
The credit applies to employees whose annual remuneration does not exceed $82,000.
Small businesses can elect to apply this credit against their payroll taxes, potentially improving their cash flow.
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Additional Information
Print number: 117_HR_2984
Sponsor: Rep. Krishnamoorthi, Raja [D-IL-8]
Process start date: 2021-05-04
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Investing in American Workers Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2984.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-05-04.

What are the main provisions?

Key points include:

  • Companies can receive a tax credit of 20% of qualified worker training expenditures if these expenses exceed the average of the preceding three years.
  • Training must lead to a recognized credential, license, or degree and be provided through accredited institutions or programs.
  • The credit applies to employees whose annual remuneration does not exceed $82,000.
  • Small businesses can elect to apply this credit against their payroll taxes, potentially improving their cash flow.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Krishnamoorthi, Raja [D-IL-8].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Labor Education