Tech training tax-credit bill introduced

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May 21, 2004 (IDG News Service) -- The Computing Technology Industry Association Inc. (CompTIA) cheered the introduction of legislation in the U.S. House of Representatives Thursday that would allow many U.S. taxpayers, including employers and laid-off workers, to receive a tax credit of up to $4,000 per year for technology training.
The Technology Retraining and Investment Now Act of 2004, known as the TRAIN Act, would allow a tax credit on qualified expenses used for technology-related training. Workers could get 50% of their training costs reimbursed each year, getting up to $4,000 back. In some economically disadvantaged areas, workers could get back up to $5,000 of training costs from the tax credit.
The credit could be used by employed and unemployed workers, as well as employers.
CompTIA, a provider of IT certification programs in Oakbrook Terrace, Ill., praised the legislation as way for U.S. technology workers to remain competitive with other U.S. workers, as well as workers abroad. "ICT [information and communications technology] skills are today's raw materials, not unlike lumber, bricks and steel," said Martin Bean, chairman of CompTIA's U.S. public policy committee and chief operating officer of New Horizons Computer Learning Centers Inc. "They're the infrastructure America needs to keep the U.S. on top."
CompTIA, in a statement, said the TRAIN Act can help U.S. workers better compete when some software programming and other IT jobs are being moved to countries with cheaper labor.
The TRAIN Act, sponsored by Rep. Jerry Weller (R-Ill.), can be assigned to employers by employees. It allows the tax credit for expenses related to course work, certification testing and other training costs.
"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," Weller said in a statement. "This initiative will train U.S. workers for better jobs here in the U.S."

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