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FOR IMMEDIATE RELEASE
June 9, 2005
Contact: Diane Pratt-Heavner
(202) 226-7797

   

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 Jim Davis introduced legislation to help address this problem.  H.R. 2801, the Up-Skilling Tax Credit Act of 2005, will attract better jobs to Florida and help jumpstart our economy by helping provide Florida ’s workers with the job training they need to meet the challenges of the new economy.

 

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, Enterprise Florida explains that “finding the appropriate workforce skills continue to be the most important factor influencing business recruitment, retention, and expansion.  The labor force must be skilled and must reflect changes in the industry.”

 

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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