Reps. Byrne and Sewell Reintroduce the Workforce Development Tax Credit Act
Congressman Bradley Byrne and Congresswoman Terri Sewell recently reintroduced the Workforce Development Tax Credit Act, a bipartisan bill that prepares our workforce for manufacturing jobs by providing federal tax credits for businesses that offer apprenticeship programs and additional credits for companies that hire apprentices.
The Manufacturing Institute says nearly 3.5 million manufacturing jobs will need to be filled over the next decade; however, approximately 2 million of those jobs will go unfilled due to a skilled labor shortage.
Rep. Byrne said: “The workforce needs in the United States are rapidly changing, and skills training is becoming more important than ever before. That’s why I am proud to join my friend and colleague Terri Sewell in introducing the Workforce Development Tax Credit Act. By encouraging businesses to partner with community colleges and universities to advance workforce training initiatives, we can help connect Americans with the skills they need to get a job and meet growing industry demands.”
Rep. Sewell said: “A strong manufacturing sector is crucial for our nation’s economic growth and prosperity. The Workforce Development Tax Credit Act encourages businesses to work with community colleges and universities to develop apprenticeship programs that will lead to more skilled workers. Emphasizing skills training will enable our country to maintain its competitive edge, and help bring more Americans into the middle class. I am proud to sponsor this bill with Bradley Byrne, my friend and fellow Alabamian, and I look forward to its passage.”
George Clark, President of Manufacture Alabama, Chairman of the Alabama Workforce Investment Board, and Vice-Chairman of the Alabama Workforce Council said: "The Workforce Development Tax Credit Act is in total alignment with the goals of the Alabama Workforce Investment Board and with the recommendations made by the Alabama Workforce Council regarding public/private partnerships.”
Highlights of the Bill
The Workforce Development Tax Credit Act of 2015 would close the skill gap and encourage job creation by providing federal tax credits to employers that create apprenticeship programs. An additional tax credit is offered to businesses that subsequently hire and retain apprentices for at least one year post-apprenticeship.
The goals of this bill are to train workers for skilled manufacturing jobs, assist companies in creating recruitment pipelines and decreasing costly turnover, and provide incentives for businesses to manufacture in America.