[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4451 Introduced in House (IH)]







105th CONGRESS
  2d Session
                                H. R. 4451

  To amend the Internal Revenue Code of 1986 to allow employers a 200 
 percent deduction for amounts paid or incurred for training employees.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 6, 1998

 Mr. Campbell introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to allow employers a 200 
 percent deduction for amounts paid or incurred for training employees.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. ENHANCED DEDUCTION FOR EMPLOYEE TRAINING COSTS.

    (a) In General.--Section 162 of the Internal Revenue Code of 1986 
(relating to trade or business expenses) is amended by redesignating 
subsection (p) as subsection (q) and inserting after subsection (o) the 
following new subsection:
    ``(p) Employee Training Costs.--In the case of an employer, the 
amount of the deduction allowed under this section for training an 
employee shall be 200 percent of the amount allowable under this 
section (determined without regard to this subsection) for such 
training.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply with respect to amounts paid or incurred after December 31, 1998.

SEC. 2. INCREASE IN CORPORATE INCOME TAX RATES.

    (a) In General.--Paragraph (1) of section 11(b) of the Internal 
Revenue Code of 1986 (relating to amount of tax) is amended--
            (1) by striking ``15 percent'' and inserting ``16 
        percent'',
            (2) by striking ``25 percent'' and inserting ``27 
        percent'',
            (3) by striking ``34 percent'' and inserting ``37 
        percent'',
            (4) by striking ``35 percent'' and inserting ``38 
        percent'', and
            (5) by striking ``$100,000'' in the last sentence and 
        inserting ``$113,000''.
    (b) Effective Date.--The amendments made by subsection (a) shall 
apply to taxable years beginning after December 31, 1998.
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