U.S. Sens. Tim Scott of South Carolina and Cory Booker of New Jersey recently introduced The Leveraging and Energizing America’s Apprenticeship Programs (LEAP) Act, which provides a tax credit to employers to help increase the number of registered apprenticeships in the U.S. to put more people to work and help fill the 4 million job vacancies across the United States.
“In South Carolina we’ve been able to develop an effective apprenticeship program, one built on public-private partnerships for students along with a tax credit for job creators,” said Scott in a release. “Because of our balanced approach, we have seen international companies like Boeing and BMW, as well as many smaller businesses across the state, begin to use the program and provide new employment opportunities for individuals. I am pleased to work with Sen. Booker on this important piece of legislation because the LEAP Act will build on South Carolina’s already successful model at the federal level.”
The LEAP Act includes a federal tax credit for hiring new apprentices that are registered with the U.S. Department of Labor or a state apprenticeship agency; offers a tax credit of $1,500 for apprentices under 25 and $1,000 for apprentices over 25; and will be fully paid through an offset by cutting printing waste by barring the federal government from producing publications that are available online with an exception for seniors, Medicare recipients, and communities with limited Internet access.
For more information, visit scott.senate.gov/opportunityagenda.
