Skilled Workforce Act

S 2664, the Skilled Workforce Act, creates a 30% federal tax credit for businesses investing in training facilities that address workforce shortages in high-demand industries like high-tech manufacturing, clean energy, construction, and advanced transportation. The credit applies to eligible institutions (such as community colleges, career schools, and public secondary schools) partnering with businesses to build or upgrade facilities for skills-based training programs. Projects must be certified by Treasury and Commerce, with a total funding cap of $500 million, prioritizing rural schools and those serving underserved communities. The credit cannot be combined with other tax benefits for the same investment and applies to property placed in service after the bill's enactment.