What is the official ID of this bill?
The official print number for this legislation is S 4287.
Paid Workforce Training Program: A Non-College Path to High-Wage Jobs.
This Act establishes a federal program offering paid, full-time workforce training as an alternative to college for citizens without a bachelor's degree. Employers receive subsidies to train individuals for specialized jobs that must pay at least 80% of the local median household income. The program is funded by a new excise tax on large private university endowments.
Key points
Creates a structured, paid, full-time training path for US citizens who have a high school diploma but no bachelor's degree.
Employers receive up to $9,000 in subsidies per trainee for training costs and a $1,000 bonus upon hiring the trainee full-time.
The target job position must offer a salary equal to at least 80% of the median household income in the local county.
The program is financed by a new 1% excise tax imposed on the endowments of private colleges and universities with assets exceeding $2.5 billion.
Status:
Expired
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