New Collar Jobs Act of 2023

This bill creates incentives to build cybersecurity workforce capacity by: (1) offering employers a 50% tax credit (up to $5,000 per employee) for cybersecurity training costs; (2) providing up to $25,000 in student loan forgiveness for cybersecurity workers employed at least 60% of their time in economically distressed areas; and (3) increasing funding for cybersecurity education programs, including CyberCorps scholarships and Advanced Technology Education grants. It directly affects employers, cybersecurity professionals, and educational institutions through tax benefits, loan relief, and expanded training opportunities. The bill targets the shortage of cybersecurity talent in manufacturing and industrial sectors, aligning with industry-defined roles from the NIST cybersecurity framework. Key provisions require employers to claim the tax credit to qualify for a 5% scoring boost in federal government contracts over $5 million.