Dodd Introduces Legislation
to Promote
Technology-Based Education and Jobs
July 30, 1998
Washington -- Senator Chris Dodd, D-Conn., today introduced
legislation, the BEST (Businesses Educating Students in Technology)
Act, to encourage companies to work with educational institutions
to improve technology-based education, training and skill development
of students.
"This legislation is designed to foster job-creating
partnerships between technology-based companies and institutions
of higher education," said Dodd. "By encouraging technology-based
companies to couple with our schools we can help create an unparalleled
workforce that is capable of bringing our state and nation into
the 21st century."
It is estimated that there are more then 350,000 vacancies
nationwide in the information technology sector alone, and yet,
the number of students graduating with technology-based degrees
is steadily declining. The number of students graduating with
degrees in computer science has decreased 43 percent between
1986 and 1994. Last year, Connecticut had a total of 299 computer
science graduates, both from public and private institutions,
a 50 percent decline from 1987.
The bill would provide a tax credit to any business that joins
with a college, university, or community-technical school to
give lectures, donate equipment, plan curricula, or perform other
activities intended to help students acquire the skills and knowledge
needed to fill jobs in technology-based businesses.
"If businesses take advantage of this credit, not only
will they have a larger pool of skilled workers to draw from,
but our nation will have a better-educated population that possesses
the knowledge to succeed in the information-based economy of
the future," Dodd said.
The tax credit will equal 40 percent of the expenses directly
related to a business' technology-based educational activities
with the total credit amounting to as much as $100,000 for any
one company. |
