A bill to amend the Internal Revenue Code of 1986 to expand and modify employer educational assistance programs, and for other purposes.
Upskilling and Retraining Assistance Act
This bill increases to $12,000 in 2021-2022, the exclusion from employee gross income, for income tax purposes, of employer-paid educational assistance programs.
The bill also expands the exclusion to include amounts paid for education-related tools and technology (e.g., hand tools, computers, software, licensure fees).
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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