VIDEO: Local Florida Schools, Major Trade Organizations Endorse Senator Moody’s Efforts to Increase Funding for Vocational Training By Targeting Multibillion-Dollar Elite[...]

The Bill has been endorsed by Hillsborough County Public Schools, The International Brotherhood of Teamsters, The Associated Equipment Distributors, The Automotive Service Association, The Associate General Contractors of America, and The Associated Industries of Florida.

TAMPA, Fla.- Senator Ashley Moody is targeting the multibillion-dollar endowments that fund the nation's top universities-like Harvard and Yale-to help ensure more educational opportunities for technical and trade students. Senator Moody's Technical Reinvestment and Apprenticeship Development Through Endowment Sharing (TRADES) Act will increase what elite universities pay on their endowment income and redirect that money to career and technical education across the United States, making that tax burden closer to what Floridians pay on investment income.

"The TRADES Act will fund technical schools that prepare Floridians to enter professions in fields like construction, electrical repair, automotive maintenance, logistics, and welding: jobs that keep Florida growing and running. Once revered American universities have now become the Left's go-to indoctrination centers, becoming immensely rich in the process and saddling students with crushing debt. Harvard has close to $57 billion in its endowment, Yale has $44 billion in its endowment, and Stanford has $40 billion in its endowment. The top schools indoctrinating students contribute a much lower percentage on investment income on their multibillion-dollar endowments than does the average Floridian-many of whom make their money building the infrastructure that keeps America moving. My bill supports Floridians who want to learn a trade or skill and send a message that our government is committed to meaningful opportunities for all Americans," said Senator Ashley Moody.

"As the seventh-largest school district in the nation, Hillsborough County Public Schools serves more than 220,000 students and offers extensive career and technical education (CTE) programs that prepare students for high-skill, high-demand careers. Perkins funding is essential to supporting these programs by expanding access to industry-recognized credentials, modern equipment, work-based learning opportunities, and workforce-aligned instruction. As Florida's demand for skilled workers continues to grow, additional Perkins funding would help districts strengthen career pathways and ensure more students graduate with the skills and credentials needed for postsecondary success and economic mobility.

"By directing additional resources to career and technical education, S. 4907 would strengthen workforce development opportunities for students while benefiting employers, communities, and Florida's economy," said Hillsborough County Public Schools.

"As a nation, we should encourage and invest in career paths that do not require a college education and its associated debt. This starts with supporting good, quality job training programs that result in guaranteed union job placement. Senator Moody's bill sends a strong message about putting our money where our priorities ought to be," said Sean M. O'Brien, President, International Brotherhood of Teamsters.

"Equipment dealers across Florida and the nation commend Senator Moody for introducing the TRADES Act and her tremendous leadership in tackling the skills gap," said Daniel B. Fisher, Senior Vice President of Government Affairs at Associated Equipment Distributors. "The greatest challenge facing equipment dealers remains the lack of service technicians and it is long overdue that investments in career and technical education match the extreme demand for skilled workers. The TRADES Act truly represents an investment in our future workforce, which is critical for businesses to grow, and America's continued prosperity and competitiveness."

"Years of underinvestment in the nation's career and technical education programs are one of the key reasons industries like construction face significant labor shortages that delay projects and increase the cost of construction. Directing new resources to the Perkins Career and Technical Education program will help expand training opportunities, strengthen the skilled trades pipeline, and better prepare the next generation of workers for high-paying careers in fields like construction. That is why the Associated General Contractors of America supports this measure, and we encourage Congress to rapidly enact it" said Associated General Contractors of America.

In the near future, America will need hundreds of thousands of new skilled workers to keep up with demand, including electricians, plumbers, and commercial drivers. Now more than ever, we must invest in America's future.

BACKGROUND:

• Senator Moody sits on the Senate Health, Education, Labor, and Pensions Committee.
• This bill increases the tax on ultra-wealthy universities that have $2 million or more in endowment dollars per student to 15%, similar to that of a capital gains tax and more closely aligned with what Floridians must pay on investment income. This money would be disbursed through Perkins Career and Technical Education grants, which then would allow states to invest in the skills education of around 12 million students across the country.
• Currently, Perkins Career and Technical Education grants are the federal government's primary way of funding career and technical education.
• Specifically, the TRADES Act:
• Puts additional federal funding into the Perkins Career and Technical Education grant program by increasing an existing tax on America's wealthiest university endowments and redirecting that tax to the Perkins Career and Technical Education programs.
• Empowers the Department of Education and states to provide more financial support to school districts and trade schools for career and technical education, including additional career and technical education curriculum, certification exams, equipment, teacher salaries and more.

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