February 2, 2009

Zipperer/Darling Re-introduce Higher Education Tax Credit Legislation

Incentive will help Wisconsin come out of the current recession with a strong workforce for the 21st century

Madison—Today Rep. Rich Zipperer (R-Pewaukee) and Senator Alberta Darling (R-River Hills) unveiled the 2009 Higher Education Tax Credit Bill.  This legislation will keep Wisconsin’s workforce competitive in the global economy and encourage businesses to grow and expand within Wisconsin.

"With the state's economy continuing to struggle, this legislation is needed to help our workers prepare to succeed in the 21st century," said Zipperer. "By encouraging the private sector to invest more in the skills of our workforce, we'll improve the competitiveness of Wisconsin businesses and prepare our workers to better compete in our ever-changing economy."

The Higher Education Tax Credit will work by encouraging businesses to invest in the continued higher education of their employees.  A business that pays for the tuition costs of sending an employee back to school will be eligible for a 50% tax credit on those costs.  The tax credit increases to 75% if the employee attending school has a taxable income of less than 185% of the federal poverty line.

“The Higher Education Tax Credit is a wise investment, which will pay off in the form of more skilled employees, higher paying jobs and a stronger economy for Wisconsin,” said Darling.

Last session, the legislation had the support of American Family Insurance, Competitive Wisconsin Inc., MMAC, MATC, United Council of UW Students, WAICU, Wisconsin Economic Development Association, WMC, and the UW System.  Zipperer and Darling expect that a similar broad coalition of supporters will endorse the bill again this term.