1. Short title This Act may be cited as the Career Advancement through New Skills Act . 2. Credit for employee education and training expenses (a) In general Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 45S. Employee education and training credit (a) Allowance of credit For purposes of section 38, the employee education and training credit determined under this section for the taxable year is an amount equal to 25 percent of the qualified education and training expenses paid or incurred by the taxpayer during such taxable year with respect to employees of the taxpayer. (b) Limitation The qualified education and training expenses taken into account under subsection (a) shall not exceed $5,000 with respect to any employee for any taxable year. (c) Qualified education and training expenses For purposes of this section, the term qualified education and training expenses means amounts paid or incurred for a program of education or training of an employee of the taxpayer if such program is specifically designed to maintain or improve skills of such employee which are necessary or useful either— (1) in the employee’s current employment position with such employer, or (2) in another employment position with such employer to which the employer reasonably anticipates such employee may transfer. Such term shall not include any amount paid or incurred for a program of education or training which is provided by such employer or by any person which bears a relationship to such employer described in section 267(b) or 707(b)(1). (d) Special rules (1) Aggregation All persons which are treated as a single employer under subsections (a) and (b) of section 52 shall be treated as a single employer for purposes of this section. (2) Denial of double benefit No deduction or credit shall be allowed under any other provision of this chapter with respect to the amount of the credit determined under this section. (3) Trade or business