Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) cosponsored bipartisan legislation introduced by Maria Cantwell (D-Wash.) and Susan Collins (R-Maine) to establish a tax credit for high-demand apprenticeship programs, enhancing America’s ability to train and educate its workforce and increase the competitiveness of our businesses in the global marketplace.
“A workforce with the right knowledge and training is a critical component of a productive economy, and many of the fastest growing jobs in Nevada, and around the country, require specific skills training,” said Cortez Masto. “Apprenticeship programs are proven to help companies stay competitive and allow American workers to increase their workplace knowledge while earning good wages. By establishing a national incentive for companies to implement these apprentice programs, this legislation will ensure that businesses thrive and that hardworking employees have the resources they need to succeed in our changing economy.”
A copy of the bill can be found HERE.
Specifically, the Apprenticeship and Jobs Training Act:
- Creates a $5,000 tax credit for up to three years for companies that hire and pay employees enrolled in a high-demand federal- or state-registered apprentice program.
- Allows senior employees near retirement to draw from pensions early if they’re involved in mentoring or training new employees.
- Helps veterans get into skilled jobs that match their military experience by allowing pervious military training to count towards apprenticeship requirement credits.