S 756
Freedom to Invest in Tomorrow’s Workforce Act
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.
Bill status
- Status
- In committee
- Sponsor
- Sen. Amy Klobuchar [D-MN]
- Cosponsors
- 16
- Policy area
- Taxation
- Introduced
- 2025-02-26
- Latest action
- 2025-02-26: Read twice and referred to the Committee on Finance.
Committee referrals
Recent actions
- 2025-02-26: Read twice and referred to the Committee on Finance.
- 2025-02-26: Introduced in Senate