BACON COSPONSORS TWO CAREER AND TECHNICAL EDUCATION TRAINING BILLS
Washington, September 16, 2020
Tags: Jobs & Economy
Washington, D.C.—Congressman Don Bacon (NE-02) recently agreed to be a cosponsor of two Career and Technical Education (CTE) training bills introduced in the House of Representatives.
H.R. 898, the Skills Investment Act of 2019, enhances the Coverdell Education Savings Accounts, which are tax advantaged savings accounts for educational expenses. American workers can use those accounts to pay for skills-based learning, career training, and workforce development. Workers can make tax-free payments and withdrawals for eligible expenses. This is similar to a health savings account, but for educational expenses. In addition, both workers and employers will receive tax credits for contributions to the accounts.
H.R. 7032, the Skills Renewal Act, creates a flexible Skills Training Credit in the amount of $4,000 per person which may be applied to cover the cost of a wide range of training programs that build skills expected to be in high demand by employers in the coming months. The refundable tax credit may be applied to the cost of training programs located anywhere along the postsecondary pipeline, including apprenticeships, stackable credentials, certificate programs, and traditional two and four-year programs.
To maximize participation by workers currently living under shelter-in-place orders, distance learning programs will be expressly included. The Skills Training credit will be made available to anyone who has lost their job as a result of the coronavirus pandemic in 2020, and the credit may be applied to the cost of training programs any time in 2020 or 2021.
“Many Nebraskans have lost their job due to the coronavirus pandemic, drastically affecting our U.S. economy and the livelihoods of thousands of Americans,” said Rep. Bacon. “Our workforce is in desperate need of technical training and education programs to rehire and enhance workers’ skillsets. As a strong supporter of our state’s labor workers, manufacturing industry, small businesses, and essential personnel, these two bills will help rebuild, restore, and reopen our economy safely and effectively.”
Rep. Bacon is also a member of the Congressional Career and Technical Education Caucus, a bipartisan group of Members committed to supporting, educating, and promoting CTE programs and well-paying, family-sustaining jobs. These fields include, but are not limited to, STEM disciplines, nursing, allied health, construction, information technology, energy, cybersecurity, sustainability, and other areas that keep our nation competitive in the global economy.