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1 Erica York, Tax Treatment of Worker Training 1 (2019)

handle is hein.taxfoundation/taxtrwkr0001 and id is 1 raw text is: Tax Treatment of Worker Training FISCAL FACT Erica York FAC 64Analyst No. 644 Mar. 2019 Key Findings * Education and training are investments in human capital and, over time, increase productivity and economic growth as human capital accumulates. * Research shows that human capital investment and accumulation leads to widespread economic gains for individuals, firms, and economies. * Tax treatment affects decisions to invest in human capital and can lead to distortions in the decision-making process for both firms and individuals. Currently, firms and individuals can deduct certain types and amounts of human capital investments, while individuals have access to some tax credits. * Several proposals exist to expand the deductibility of, or even to subsidize, human capital investments. Many of these proposals point to factors such as positive externalities and the skills gap as reasons to improve tax treatment. * Lawmakers ought to consider streamlining or consolidating existing provisions, and strive to make new proposals simple, efficient, easy to administer, and neutral. The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, and local levels. We are a 501(c)(3) nonprofit organization. @2019 Tax Foundation Distributed under Creative Commons CC-BY NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org

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