S.4408 - Upskilling and Retraining Assistance Act116th Congress (2019-2020)
|Sponsor:||Sen. Hassan, Margaret Wood [D-NH] (Introduced 08/04/2020)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 08/04/2020 Read twice and referred to the Committee on Finance. (All Actions)|
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Summary: S.4408 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (08/04/2020)
Upskilling and Retraining Assistance Act
This bill increases to $12,000 in 2020-2021, the exclusion from employee gross income, for income tax purposes, of employer-paid educational assistance programs.
The bill also expands the definition of educational equipment provided to an employee to include education-related tools and technology and other equipment (e.g., hand tools, computers, software, licensure fees).