Freedom to Invest in Tomorrow’s Workforce Act
- Bill Number
- S. 756
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 1
- Policy Area
- Taxation
- Status
- Introduced
- Latest Action
- 2025-02-26: Read twice and referred to the Committee on Finance.
- Last Updated
- 2025-12-06T06:38:13Z
Official Summary
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.
Sponsor
Cosponsors (16)
Sen. Marshall, Roger [R-KS], Sen. Welch, Peter [D-VT], Sen. Collins, Susan M. [R-ME], Sen. Hickenlooper, John W. [D-CO], Sen. Tillis, Thomas [R-NC], Sen. King, Angus S., Jr. [I-ME], Sen. Sullivan, Dan [R-AK], Sen. Kelly, Mark [D-AZ], Sen. Tuberville, Tommy [R-AL], Sen. Fetterman, John [D-PA], Sen. Schmitt, Eric [R-MO], Sen. Duckworth, Tammy [D-IL], Sen. Britt, Katie Boyd [R-AL], Sen. Moran, Jerry [R-KS], Sen. Hyde-Smith, Cindy [R-MS], Sen. Rosen, Jacky [D-NV]
Recent Actions
- 2025-02-26: Read twice and referred to the Committee on Finance.
- 2025-02-26: Introduced in Senate
Bill Versions
- Freedom to Invest in Tomorrow’s Workforce Act — issued 2025-02-26 — PDF (6 pages)