Tax credit proposed for employee training

Sometimes, Congress at least tries to do the right thing.

There’s a bipartisan push at the moment that we’re hoping makes it through the sausage-making process – a bill that would give employers a tax credit to offset some of the costs of training employees.

It’s H.R. 4088, also known as the Career Advancement Through New Skills Act. If it’s successful, it could mean an offset of up to $1,250 of training expenses per employee. Qualified expenses would include the cost of training or programming to improve or maintain skills needed by employers.

The bill is designed to assist small businesses in finding the employees they need for well-paid jobs that they’ve been unable to fill, whether because of an inability to boost existing employees’ skills or a lack of available training.

All kinds of employers — whether in hospitality or construction or pretty much any sector — have been looking to apprenticeships and training programs to address the problem. However, smaller employers have struggled most to find the dollars for training.

Tax credits for doing so could provide the incentive to convince more small and midsize employers to create their own on-the-job training programs.

Illinois Republican Rep. Randy Hultgren, one of the authors of the legislation, is hoping for the best.

“Let’s help the backbone of our economy — small businesses — create opportunity for their workers in order to grow. The federal government can and should be a partner in supporting classes and training offered by companies that can give more stability to their workers and put them in a position to earn more money.”

Amen to that!

About the Author

Larry Hannappel

Larry spent 16 years with Century Casino’s and was instrumental in the start-up and growth of the company through expansions in Canada, South Africa, the Czech Republic, Poland and on several cruise ships as well as in Colorado. He was most recently the SVP, Principal Finance Officer and COO of North American operations for Century Casinos Inc., a multinational, Nasdaq-traded gaming company. Earlier in his career, Larry worked at the Johns Manville Corp. Larry spent 13 years in various accounting and finance functions in the company’s fiberglass manufacturing division and was key in the start-up of a molding plant in Indiana. Larry and his wife Kathy and three children live in Colorado. He enjoys four-wheeling, motorcycling, golfing, skiing and brewing beer.