Bill Overview
Title: Workforce Development Investment Act of 2022
Description: This bill allows employers new tax credits for (1) partnering with qualified educational institutions (i.e., any community college, any other institution of higher education, and any area career and technical education school) to improve workforce development and job training for students; and (2) certain job training program expenses.
Sponsors: Rep. Kuster, Ann M. [D-NH-2]
Target Audience
Population: People engaged in workforce development and job training programs
Estimated Size: 15000000
- The bill explicitly targets workforce development and job training.
- It involves partnerships with educational institutions to enhance job opportunities for students.
- Eligible educational institutions include community colleges and technical schools, which serve millions globally.
- The impact extends to employers who may benefit from tax credits, thus incentivizing them to participate.
Reasoning
- The policy mainly benefits employers and students or job seekers engaged in job training programs associated with community colleges and technical schools.
- Access to developed workforce skills and job training could positively impact wellbeing by improving job opportunities and job performance, leading to potential career growth.
- The tax credit incentives for employers may result in more job training opportunities, potentially leading to a wider reach within the target population.
- There will be variation as not all regions or industries may participate equally. Some individuals may see no change if their industry or employer does not engage with the programs.
Simulated Interviews
Community College Student (Los Angeles, CA)
Age: 21 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- I am excited about more training opportunities that will be available.
- I hope this improved access helps me land a good job after graduation.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 6 |
Factory Manager (Detroit, MI)
Age: 45 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- This policy could make it easier to upskill my workforce.
- The tax credits are a great incentive for our budget.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 7 |
Software Developer (Austin, TX)
Age: 34 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 2.0 years
Commonness: 6/20
Statement of Opinion:
- I think this could give me a chance to pivot careers or gain new skills.
- I'm worried about the time commitment while also looking for new work.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 8 | 5 |
| Year 5 | 8 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 7 | 5 |
Restaurant Manager (New York, NY)
Age: 29 | Gender: other
Wellbeing Before Policy: 6
Duration of Impact: 1.0 years
Commonness: 5/20
Statement of Opinion:
- I think the policy is beneficial but I'm not sure if it will affect my field.
- If the courses are beneficial, I would definitely participate.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 7 |
| Year 10 | 6 | 7 |
| Year 20 | 6 | 7 |
Agricultural Worker (Rural Kansas)
Age: 53 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 4/20
Statement of Opinion:
- Not sure if this will impact me directly.
- I hope it can provide more viable job options locally.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 5 |
Technical School Graduate (Cleveland, OH)
Age: 23 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 7/20
Statement of Opinion:
- Hopeful that more apprenticeships will be available with this initiative.
- I need hands-on experience that this might support.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 6 |
Start-up Founder (San Francisco, CA)
Age: 38 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 3.0 years
Commonness: 3/20
Statement of Opinion:
- Eager to see if this brings more skilled workers into the industry.
- Tax credits are always welcomed to reduce operational costs.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 9 |
| Year 10 | 9 | 8 |
| Year 20 | 9 | 8 |
Job Training Program Coordinator (Chicago, IL)
Age: 30 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 9/20
Statement of Opinion:
- This will enable us to enhance the programs and reach more participants.
- Better partnerships with educational bodies are possible with the tax incentive.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 9 | 8 |
Community College Educator (Boston, MA)
Age: 50 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- I'm encouraged by anything that supports educational growth in my field.
- This could increase enrollment and opportunities for our students.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 7 |
Unemployed (Miami, FL)
Age: 40 | Gender: female
Wellbeing Before Policy: 4
Duration of Impact: 3.0 years
Commonness: 8/20
Statement of Opinion:
- I am hoping for more training programs that can help me switch careers.
- The policy is good news but I want to see real opportunities.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 7 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 5 |
Cost Estimates
Year 1: $1500000000 (Low: $1000000000, High: $2000000000)
Year 2: $1550000000 (Low: $1050000000, High: $2100000000)
Year 3: $1600000000 (Low: $1100000000, High: $2200000000)
Year 5: $1700000000 (Low: $1200000000, High: $2300000000)
Year 10: $2000000000 (Low: $1500000000, High: $2500000000)
Year 100: $2500000000 (Low: $2000000000, High: $3000000000)
Key Considerations
- The scale and reach of the program are directly tied to the number of participating employers and the amount they spend on job training.
- Long-term economic improvements depend heavily on the effectiveness and relevance of training provided in these programs.
- Potential tax revenue impacts need to be balanced against the expected economic benefits from a more skilled workforce.