Workforce Development Program: College Alternative and New Taxes
This act establishes a new workforce development program as an alternative to traditional college education, offering paid apprenticeships and training. It aims to help individuals without a bachelor's degree acquire specialized skills and secure well-paying jobs. Additionally, the act imposes a new tax on large private universities, which could impact their financial operations.
Key points
Establishes a program of paid vocational training and apprenticeships for individuals without a bachelor's degree, supported by employer subsidies.
Imposes a 1% excise tax on large private college and university endowments (over $2.5 billion), excluding religious institutions.
Provides protections for trainees against discrimination and retaliation for filing complaints within the program.
Sets minimum wage requirements for trainees and mandates that target positions offer at least 80% of the median household income in the relevant county.
Status:
Expired
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