Freedom to Invest in Tomorrow’s Workforce Act has not moved since its introduction on Feb 26, 2025, with cosponsors split almost evenly between the parties
Written by the Congressional Research Service [2]. 174 words.
Freedom to Invest in Tomorrow’s Workforce Act This bill expands the expenses eligible for tax-free withdrawals from a qualified tuition program (known as a 529 plan) to include tuition, fees (including test fees), books, supplies, equipment, and other expenses related to the enrollment or attendance in a recognized postsecondary credentialing program. Under the bill, a recognized postsecondary credentialing program includes certain programs identified by a state as providing training services, a program listed in the Web Enabled Approval Management System (WEAMS) maintained by the Department of Veterans Affairs, certain examinations required to obtain or maintain a credential, and other reputable credentialing programs. Further, under the bill, such programs must be designed for an individual to obtain an industry-recognized postsecondary employment credential (e.g., project management professional certificate, advanced emergency medical technician certificate, and welding supervisor certificate), a certificate of completion of a registered and certified apprenticeship, an occupational or professional license issued or recognized by a state or the federal government (and any certification required for obtaining such license), or an associate or baccalaureate degree.
- Committees
- Senate Finance Committee
- Policy area
- Taxation: 20 of 6,214 bills became law, 113th–118th (0.3%)
- Sponsor
- 17 of 637 bills enacted since 2013
- Text versions
- 1: introduced in senate · 613 words
- Latest action
- Feb 26, 2025: Read twice and referred to the Committee on Finance.
- Records
- Congress.gov · Bill text
Each bill appears once, under its strongest link. 2 in all.
Related, per CRS or House · 2
- 119th H.R. 1 An act to provide for reconciliation pursuant to title II of H. Con. Res. 14. R · Law
- 119th H.R. 1151 Freedom to Invest in Tomorrow’s Workforce Act R · Introduced