Legislation would allow Americans to use ‘529’ education savings accounts to pay for training programs
WASHINGTON — Earlier this week, U.S. Senator Tommy Tuberville (R-AL) joined a group of bipartisan colleagues to reintroduce the Freedom to Invest in Tomorrow’s Workforce Act, which would support economic growth and workforce development by allowing 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.
“During my four decades as a coach and educator, I met many students with unique skills they learned and applied outside of a traditional classroom setting,” said Senator Tuberville.“Our economy cannot grow without skilled workers, and it’s important we incentivize Americans to pursue careers that both align with their interests and fill crucial gaps in our workforce. Not all of those valuable careers require college degrees. This legislation allows savings accounts set aside for education to be applied to other forms of training and certification.”
The legislation is cosponsored by U.S. Senators Amy Klobuchar (D-MN), Mike Braun (R-IN), Tammy Duckworth (D-IL), Susan Collins (R-ME), Dianne Feinstein (D-CA), Joe Manchin (D-WV), Martin Heinrich (D-NM), and Peter Welch (D-VT).
BACKGROUND:
After spending four decades working with young adults as a coach and educator, Senator Tuberville is a vocal advocate for improving workforce development and skills training throughout the United States. Senator Tuberville has argued that career and technical education programs like dual enrollment and apprenticeships should be recognized as respectable paths to opportunity, not treated as second-rate. Senator Tuberville’s work on boosting workforce development and skills training is a reflection of his commitment to helping Alabamians succeed in a rapidly-changing economy. By focusing on allowing Americans to use education savings accounts for skills training, credentialing, and certification programs, he is working to ensure that all Americans have the opportunity to acquire the skills they need to thrive in the 21st century workforce.
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, and HELP Committees.
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