‘529’ Expansion Bill Reintroduced in Senate, House
The bills have bipartisan support in both chambers
Sens. Amy Klobuchar (D-MN) and Mike Braun (R-IN) and Reps. Rob Wittman (R-VA) and Abigail Spanberger (D-VA) this week reintroduced the Freedom to Invest in Tomorrow’s Workforce Act, bipartisan legislation to allow Americans to use ‘529’ education savings accounts for skills training, credentialing and certification programs.
Current law only permits workers and families to use 529 accounts to pay for college, university and vocational school expenses, but ASAE and the Professional Certification Coalition have long championed the Freedom to Invest in Tomorrow’s Workforce Act as a way for workers to pay for voluntary professional certifications and credentials offered by associations.
The timing of the bill being reintroduced is ideal, as ASAE will hold its 2023 American Associations Day, ASAE’s annual legislative fly-in, on March 27-28 in Washington, DC. Building support for the Klobuchar-Braun and Wittman-Spanberger bills will be the central advocacy focus of ASAE’s fly-in this year.
“Skills training and development programs help provide people with the tools and resources they need to succeed in our economy,” Klobuchar said. “By allowing workers to use their ‘529’ educational savings to pay for additional training and certification, our bipartisan legislation will enable more Americans to access and benefit from these valuable programs.”
Every high school student in America needs to know that you don’t necessarily have to go to college to have a great career,” Braun said. “By expanding opportunities and access to skills training programs, and letting Americans use their ‘529’ education savings to pay for it, we can address the nationwide skills shortage and fill American jobs.”
The Senate bill is cosponsored by Sens. Tammy Duckworth (D-IL), Susan Collins (R-ME), Dianne Feinstein (D-CA), Joe Manchin (D-WV), Martin Heinrich (D-NM), Peter Welch (D-VT) and Tommy Tuberville (R-AL).
To review the agenda and register for American Associations Day, click here.
This article was provided to OSAP by ASAE's Power of Associations and Inroads.