S. 756 · 119th Congress
Freedom to Invest in Tomorrow’s Workforce Act
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KlobucharSponsor16 cosponsors · 6 D, 9 R, 1 I
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Collins
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Marshall
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Welch
JH
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Hickenlooper
MK
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Kelly
AK
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King
DS
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Sullivan
TT
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Tillis
KB
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Britt
TD
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Duckworth
JF
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Fetterman
ES
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Schmitt
TT
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Tuberville
JM
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Moran
CH
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Hyde-Smith
JR
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Rosen3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in Senate · Feb 26, 2025
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Freedom to Invest in Tomorrow’s Workforce Act
Latest action (Feb 26, 2025): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Feb 26, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.