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Rep. Davis Introduces Up-Skilling Tax Credit Act Bill would help employees prepare for the challenges of the 21st Century workplace.
WASHINGTON, DC – As the nation debates the problem of stagnant job growth and the “offshoring” of American jobs to foreign countries, Floridians are struggling to combat another employment problem – chronic underemployment which is stifling family incomes as well as Florida’s economy.
Last
night, Congressman
Business organizations such as Enterprise Florida and Florida Chamber of Commerce have acknowledged that while Florida has seen job growth in the service and tourism sector, our state has struggled to convince high tech and other high wage and high growth industries to set up shop in Florida.
In
their 2004-2009 Statewide Strategic Plan for Economic Development,
The Up-Skilling Tax Credit Act will promote a more highly skilled and productive workforce by giving an incentive to employers who provide valuable lifetime learning opportunities for their employees. Specifically, the bill would allow employers to use 20 percent of the costs of providing technical training to their employees as a credit against their income tax expenses. Eligible employers could receive a credit of up to $1,000 per employee per year over the next 5 years. Eligible training courses must lead to an industry-recognized license or certificate.
“We may not be able to anticipate the next bend in the economic road, but one thing stays constant – education opens doors,” said Congressman Davis. “The more opportunities that workers have to improve their skills and receive training to adapt to ever changing business technologies, the more opportunities they will find in the workplace.”
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