On June 15, President Trump signed an Executive Order streamlining the design and approval for apprenticeship programs funded by the Department of Labor (DOL). The Order is intended to entice more employers to begin apprenticeship programs for training workers, by providing increased flexibility over the contents and requirements of such programs. President Trump also announced plans to dedicate additional funds to apprenticeship training programs, despite cutting DOL’s overall workforce retraining budget.
Last week, a bipartisan Senate group introduced legislation that would make a tax credit of up to $5000 per employee available for companies that hire through an approved apprenticeship program. The bill would give employers a credit of up to $3.00 per hour for apprentice wages. The legislation would also permit older employees near retirement to access their pensions at an earlier date if they agree to mentor apprentices.