The USA Workforce Investment Act creates a new federal tax credit that allows individual taxpayers to reduce their income taxes by donating money to nonprofit organizations that provide workforce training and apprenticeship programs. The credit is capped at $1,700 per person per year and applies only to cash donations to eligible training organizations that are certified under the Workforce Innovation and Opportunity Act. The bill affects individual taxpayers across the country who want to support workforce development, as well as nonprofit training providers who will receive charitable donations to expand their programs. Unused credits can be carried forward to future years for up to five years, and the tax break would take effect for the tax year following the law's passage. This legislation essentially uses the tax code to incentivize private charitable giving toward job training and apprenticeship initiatives.
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