U.S. Sens. Shelley Moore Capito (R-WV) and Gary Peters (D-MI) have reintroduced a bill that would aid communities in addressing workforce needs through post-graduation scholarship initiatives.
Legislation proponents indicated the Workforce Development through Post-Graduation Scholarships Act mandates that post-graduation grant program scholarship recipients are not required to pay income taxes on awarded funding, similar to traditional scholarships.
“A strong workforce is an essential component to the success of our state,” Capito said. “I’m proud to put forward a bipartisan solution that incentivizes recent graduates to stay in West Virginia and fill vital workforce needs by cutting burdensome taxes.”
Bill provisions include excluding post-graduation scholarships from gross income, ensuring recipients live and work in a community in need, and providing guidelines for proper oversight.
“By passing post-graduation scholarship legislation, Congress will make it possible for young people to return to their hometowns after college and ensure that communities across the country can attract a workforce that fits their needs,” Council on Foundations President and CEO Kathleen Enright said.
The Greater Kanawha Valley Foundation President and CEO Michelle Foster has also expressed support for the bill.
“Offering post-graduate scholarships is a wonderful opportunity to attract West Virginians back home as we work to grow our shrinking population and stimulate economic development,” Foster said.