#tax-credit

#tax-credit

Introduced on Friday, Feb. 13 by Reps. Josh Gottheimer, D-N.J., and Mike Lawler, R-N.Y., the AI Workforce Training Act would modify the Internal Revenue Code of 1986 to support tax credits for companies providing AI training to employees equal to 30% of the qualified expense with a limit of $2,500 per employee. Eligible expenses are listed as accredited courses, workshops, certificate programs and in-house instruction covering areas like data literacy, machine learning fundamentals, prompt engineering, AI ethics education and more.

The legislation cuts government support for emission-light vehicles, introducing uncertainty for an auto industry already facing challenges amidst a transition to electric vehicles.

The tax credit provides up to $7,500 off the price of an EV as long as certain conditions are met, and the language from the House would have given it until the end of the year.