The Freedom to Invest in Tomorrow’s Workforce Act has made significant progress with the addition of a key House member to the list of co-cosponsors. Congressman Mike Kelly (R-PA) has joined the ranks as the 57th co-sponsor, bringing substantial influence. Kelly is not only a member of the Ways and Means Committee; he also chairs the Tax Subcommittee, granting him critical authority over tax policy matters. Approval from the Tax Subcommittee is a prerequisite for the bill’s advancement within the larger committee.
Despite Congress being on break, the bill’s support is steadily expanding. With the return of legislators in September, the Tomorrow’s Workforce Coalition is creating a strong position from which to advance the bill. A coalition meeting held on August 15 was aimed at preparing for Congress’ return.
Led by Representatives Rob Wittman (R-VA) and Abigail Spanberger (D-VA) in the House, alongside Senators Amy Klobuchar (D-MN) and Mike Braun (R-IN) in the Senate, the Freedom to Invest in Tomorrow’s Workforce Act seeks to broaden economic opportunities by extending the coverage of 529 savings plans to include postsecondary training and credentialing programs. This expansion would provide tax-advantaged resources for career development and non-traditional educational paths.
More than 600 member organizations have joined the Tomorrow’s Workforce Coalition to get this legislation passed. More information about the coalition’s work and details for organizations still interested in joining can be found at the Tomorrow’s Workforce Coalition webpage.
This article was provided to OSAP by ASAE's Power of Associations and Inroads.