TRAIN Act Allows Tax Credit for Technology Training

Rep. Jerry Weller (R-Ill.) has introduced to the U.S. House of Representatives legistraltion that would allow many U.S. taxpayers to receive a tax credit for qualified training costs of up to $4,000 per year, more in some areas.Both employers and laid-off workers would be eligible for the tax credit under Congressman Weller’s bill, the The Technology Retraining and Investment Now Act of 2004, referred to as the TRAIN Act.

According to Congressman Weller, “Investment in computer education and information technology skills training is the best long-term solution to meet the shortage of skilled IT workers and keep technology based jobs here in the United States. The Technology Retraining And Investment Now Act will help workers and their employers recover the cost of training and help thousands of workers obtain higher paying jobs. This initiative will train U.S. workers for better jobs here in the U.S. TRAIN is designed to help either the worker or the employer recover the cost of IT and computer skills training, If a worker seeking the opportunity for higher paying technology based jobs invests in tuition to learn computer and information technology skills, TRAIN will give them a tax credit to reduce the cost. Or if the employer pays the cost of training, the employer is eligible for the credit. This doesn’t just cover the programmers, it also includes engineers, machinists, architects, call center workers and others who must continuously upgrade their skills to keep up with changes in technology and others who might want to learn a new skill for a different type of employment.”

Dave’s Opinion
This is a perfect example of the the type of legislation needed to help develop new talent in the IT industry.

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References
TRAIN Act Announcement