What is the official ID of this bill?
The official print number for this legislation is HR 8316.
New Paid Workforce Training Program as College Alternative
This Act establishes a federal program offering paid, full-time job training as an alternative path to employment for high school graduates who do not have a bachelor's degree. Trainees receive wages and structured training leading to jobs expected to pay at least 80% of the local median household income. The bill also imposes a new 1% excise tax on large private university endowments.
Key points
Paid Training Opportunity: Creates a structured, paid, full-time training program for citizens with a high school diploma, bypassing the need for a college degree.
High Wage Goal: Training must prepare participants for positions paying at least 80% of the median household income in their local area.
Employer Incentives: Employers receive up to $9,000 in subsidies for training costs and a $1,000 bonus for hiring the trainee full-time upon completion.
New Tax: The bill imposes a new 1% excise tax on private university endowments valued at $2.5 billion or more.
Status:
Expired
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