Singleton Introduces Bill to Partner With Businesses That Provide Job Training & Work Education to Its Employees

New Jersey state Sen. Troy Singleton (D) has proposed legislation to provide tax credits against corporate business and gross income taxes for companies that provide job training or work education programs for their employees, reports Insider NJ . "By providing businesses tax incentives to train workers for these careers, we are ensuring that both employers and workers get what they need to succeed," he said. The bill stipulates that the amount of the tax credit is 10 percent of the amount paid by the taxpayer for worker investment in a taxable year, up to $2,000 per worker. Eligible businesses would include those with less than $2.5 million in annual gross receipts, that have been operating in New Jersey for less than a decade, and that employ individuals in the state. Employee training should seek to improve the worker's job skills or knowledge, and should lead to the award of an industry-recognized credential to the employee upon successful completion. "Our nation's workforce can no longer simply rely on their existing skill set to succeed in the workplace," Singleton stated. "All workers must be lifelong learners, who are constantly looking to develop new skills over the course of their careers as the nature of work evolves."