US HB5516 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Democrat 10-0)
Status: Introduced on April 13 2018 - 25% progression, died in chamber
Action: 2018-04-16 - Sponsor introductory remarks on measure. (CR H3330)
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 13 2018 - 25% progression, died in chamber
Action: 2018-04-16 - Sponsor introductory remarks on measure. (CR H3330)
Text: Latest bill text (Introduced) [PDF]
Summary
Investing in American Workers Act This bill amends the Internal Revenue Code to allow a business-related tax credit for employers who increase worker training expenditures. The credit is equal to 20% of the excess of: (1) the qualified training expenditures for the year, over (2) the average of the qualified training expenditures for the three previous years. If the employer had no qualified training expenditures in any one of the three previous years, the credit is equal to 10% of the expenditures for the year. The credit applies to expenditures for the training of non-highly compensated employees (annual compensation does not exceed $82,000). The training must result in the attainment of a recognized postsecondary credential and be provided through: an apprenticeship program in an emerging industry; a program of training services that is included on a list of eligible training providers that states are required to maintain under the Workforce Innovation and Opportunity Act; a program which is conducted by an area career and technical education school, a community college, or a labor organization; or a program which is sponsored and administered by an employer, industry trade association, industry or sector partnership, or labor organization. Certain small businesses and tax-exempt organizations may apply the credit against payroll taxes, subject to specified limits and requirements. Eligible small businesses may also apply the credit against the alternative minimum tax.
Title
Investing in American Workers Act
Sponsors
Rep. Raja Krishnamoorthi [D-IL] | Rep. Joseph Crowley [D-NY] | Rep. Linda Sanchez [D-CA] | Rep. Suzan DelBene [D-WA] |
Rep. Debbie Dingell [D-MI] | Rep. Darren Soto [D-FL] | Rep. Anthony Brown [D-MD] | Rep. Ami Bera [D-CA] |
Rep. Ann Kuster [D-NH] | Rep. Adam Schiff [D-CA] |
History
Date | Chamber | Action |
---|---|---|
2018-04-16 | House | Sponsor introductory remarks on measure. (CR H3330) |
2018-04-13 | House | Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
2018-04-13 | House | Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
2018-04-13 | House | Introduced in House |
Same As/Similar To
SB2048 (Related) 2017-10-31 - Read twice and referred to the Committee on Finance.
Subjects
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/house-bill/5516/all-info |
Text | https://www.congress.gov/115/bills/hr5516/BILLS-115hr5516ih.pdf |