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President Obama is looking to create new tax benefits for employers who hire the graduates of certain community college programs as an effort to boost collaboration between businesses and higher education.
The proposal, which the White House announced on Friday, will be part of Obama’s budget request to Congress this week. Under the plan, an employer that partners with a community college would be eligible for a one-time $5,000 tax credit for hiring a graduate of the college full time. The employer would be expected to help design curriculum, donate instructors and equipment, and create job-based learning opportunities.
It would be up to states to designate which partnerships between employers and colleges qualify for the tax benefits, which would total $500 million each year for the next five years, according to the White House plan. The goal of the new tax incentives, the administration said, is “to encourage employers to play a more active role in funding and directing educational options at community and technical colleges.”
The proposal builds off legislation introduced last fall by Senator Al Franken of Minnesota and Representative Tammy Duckworth of Illinois, both Democrats.
