JOBS Act of 2023

Hozzl · 2024-03-12T10:08:22Z

Explore the details of Senate Bill 161 JOBS Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Education. Stay informed on legislative developments.

3/12/2024, 10:08 AM

Summary of Bill S 161

Bill 118 s 161, also known as the JOBS Act of 2023, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to promote job creation and economic growth by providing incentives for businesses to invest in new projects and hire more workers.

One key provision of the JOBS Act is the creation of tax credits for businesses that create new jobs or invest in infrastructure projects. These tax credits are designed to encourage businesses to expand their operations and hire more workers, which in turn will stimulate economic growth and reduce unemployment.

Another important aspect of the bill is the streamlining of regulations for small businesses and startups. The JOBS Act aims to reduce the bureaucratic red tape that often hinders small businesses from growing and creating new jobs. By simplifying the regulatory process, the bill seeks to make it easier for entrepreneurs to start and expand their businesses. Additionally, the JOBS Act includes provisions to support workforce development and training programs. These programs are designed to help workers gain the skills they need to succeed in the modern economy and secure well-paying jobs. By investing in workforce development, the bill aims to ensure that American workers are prepared for the jobs of the future. Overall, the JOBS Act of 2023 is a comprehensive piece of legislation that aims to boost job creation and economic growth in the United States. By providing incentives for businesses to invest in new projects, streamlining regulations for small businesses, and supporting workforce development programs, the bill seeks to create a more prosperous and dynamic economy for all Americans.

Congressional Summary of S 161

Jumpstart Our Businesses by Supporting Students Act of 2023 or the JOBS Act of 2023

This bill expands student eligibility for Pell Grants by establishing the Job Training Federal Pell Grant program.

Specifically, the bill requires the Department of Education to award a job training Pell Grant to a student who does not have a degree; attends an institution of higher education (IHE); is enrolled in a career and technical education program at an IHE that provides 150 to 600 clock hours of instructional time over a period of 8 to 15 weeks and provides training aligned with high-skill, high-wage, or in-demand industry sectors (i.e., job training programs); and meets all other eligibility requirements for a Pell Grant.

Additionally, the bill specifies that any period during which a student receives a job training Pell Grant counts toward that student's Pell Grant eligibility period.

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Current Status of Bill S 161

Bill S 161 is currently in the status of Bill Introduced since January 31, 2023. Bill S 161 was introduced during Congress 118 and was introduced to the Senate on January 31, 2023. Bill S 161's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of January 31, 2023