Skilled Workforce Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 2664 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 2664 To amend the Internal Revenue Code of 1986 to establish the qualifying workforce training project credit. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES August 1, 2025 Mr. Ossoff introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to establish the qualifying workforce training project credit. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Skilled Workforce Act''. SEC. 2. ESTABLISHMENT OF QUALIFYING WORKFORCE TRAINING PROJECT CREDIT. (a) In General.--Subpart E of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 48E the following new section: ``SEC. 48F. QUALIFYING WORKFORCE TRAINING PROJECT CREDIT. ``(a) Establishment of Credit.-- ``(1) In general.--For purposes of section 46, the qualifying workforce training project credit for any taxable year is an amount equal to 30 percent of the qualified investment for such taxable year with respect to any qualifying workforce training project of an eligible taxpayer. ``(2) Eligible taxpayer.--For purposes of this section, the term `eligible taxpayer' means any taxpayer which is not a foreign entity of concern (as defined in section 9901(8) of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (15 U.S.C. 4651(8))). ``(b) Qualified Investment.-- ``(1) In general.--For purposes of subsection (a), the qualified investment for any taxable year is the basis of eligible property placed in service by the eligible taxpayer during such taxable y