The LEAP Act gives businesses a tax break when they invest in apprenticeship programs. Specifically, employers get a $1,500 tax credit for each employee who participates in a qualified apprenticeship program, but only once that employee reaches a certain level of training as defined by the bill. This is designed to encourage companies to hire and train apprentices by making it financially rewarding to do so.

To pay for this tax credit program, the government has to find ways to save money elsewhere. The bill requires the Office of Management and Budget to work with federal agencies to come up with a plan to cut government printing costs over the next 10 years starting in 2023. So while businesses get a financial incentive to support apprenticeships, the government offsets that cost by reducing what it spends on printing materials and documents.

LEAP Act

Budzinski, Nikki

Leveraging and Energizing America's Apprenticeship Programs Act or the LEAP Act This bill allows employers a tax credit for each of their employees who participate in qualified apprenticeship programs. The credit is equal to $1,500 for each of the apprenticeship employees of the employer that exceeds a specified apprenticeship level determined by this bill. As an offset, the bill requires the Director of the Office of Management and Budget to coordinate with federal departments and independent agencies to devise a strategy to reduce government printing costs over the 10-year period beginning with FY2023.