New legislation introduced to provide businesses tax credits for training programs

Oct 22, 2003 12:00 PM

Sen. Allard, R-Colo., recently introduced new legislation (S. 1625, The Apprenticeship Training and Education Act of 2003) that would provide a tax credit of as much as $10,000 per year for the first two years for an apprentice’s four-year training program. The apprenticeship programs would only be available to construction trades recognized by the Bureau of Labor Statistics and approved by the U.S. Department of Labor and state apprenticeship councils.

“Many of these industries are very capital intensive and it makes sense to offer small businesses a short term tax credit to encourage productivity and stimulate economic growth and job creation,” says Sen. Allard.

“We encourage you to write or call your Senators in support of this vital piece of legislation,” says Gene Mini, IEC National President. “This tax credit will help small businesses afford to recruit and train qualified apprentices.”

To support the bill, download a sample letter that you can customize and send to your senators at www.ieci.org. Click on ‘government affairs’ at the bottom of the page, and then click on ‘write your lawmakers’.