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Investing in American Workers Act

USA117th CongressHR-2984| House 
| Updated: 5/4/2021
Raja Krishnamoorthi

Raja Krishnamoorthi

Democratic Representative

Illinois

Cosponsors (6)
Abigail Davis Spanberger (Democratic)Jefferson Van Drew (Republican)Daniel Meuser (Republican)Cynthia Axne (Democratic)Tom Emmer (Republican)Susan Wild (Democratic)

Ways and Means Committee, Education and Workforce Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Investing in American Workers Act This bill allows 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 adjusted 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 adjusted qualified training 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; 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 that is conducted by an area career and technical education school, a community college, or a labor organization; or a program that 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.
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Timeline

Bill from Previous Congress

HR 116-5012
Investing in American Workers Act
May 4, 2021
Introduced in House
May 4, 2021
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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.
Mar 22, 2022

Latest Companion Bill Action

S 117-1422
Committee on Banking, Housing, and Urban Affairs. Hearings held.
  • Bill from Previous Congress

    HR 116-5012
    Investing in American Workers Act


  • May 4, 2021
    Introduced in House


  • May 4, 2021
    Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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.


  • March 22, 2022

    Latest Companion Bill Action

    S 117-1422
    Committee on Banking, Housing, and Urban Affairs. Hearings held.

Taxation

Related Bills

  • S 117-1422: Investing in American Workers Act
Employment and training programsEmployment taxesHigher educationIncome tax creditsIncome tax ratesLicensing and registrationsSmall businessTax-exempt organizations

Investing in American Workers Act

USA117th CongressHR-2984| House 
| Updated: 5/4/2021
Investing in American Workers Act This bill allows 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 adjusted 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 adjusted qualified training 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; 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 that is conducted by an area career and technical education school, a community college, or a labor organization; or a program that 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-5012
Investing in American Workers Act
May 4, 2021
Introduced in House
May 4, 2021
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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.
Mar 22, 2022

Latest Companion Bill Action

S 117-1422
Committee on Banking, Housing, and Urban Affairs. Hearings held.
  • Bill from Previous Congress

    HR 116-5012
    Investing in American Workers Act


  • May 4, 2021
    Introduced in House


  • May 4, 2021
    Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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.


  • March 22, 2022

    Latest Companion Bill Action

    S 117-1422
    Committee on Banking, Housing, and Urban Affairs. Hearings held.
Raja Krishnamoorthi

Raja Krishnamoorthi

Democratic Representative

Illinois

Cosponsors (6)
Abigail Davis Spanberger (Democratic)Jefferson Van Drew (Republican)Daniel Meuser (Republican)Cynthia Axne (Democratic)Tom Emmer (Republican)Susan Wild (Democratic)

Ways and Means Committee, Education and Workforce Committee

Taxation

Related Bills

  • S 117-1422: Investing in American Workers Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Employment and training programsEmployment taxesHigher educationIncome tax creditsIncome tax ratesLicensing and registrationsSmall businessTax-exempt organizations