Freedom to Invest in Tomorrow’s Workforce Act

This legislation proposes to expand the flexibility of 529 savings plans, which are currently used primarily for college tuition. If enacted, the bill would allow individuals to withdraw funds tax-free to pay for expenses related to obtaining professional credentials, licenses, and certificates. This would include costs for tuition, testing fees, books, and equipment required for recognized postsecondary programs that are not traditional four-year degrees.

The bill aims to support workforce development by covering a wide range of career paths. Eligible expenses would include those for industry-recognized certificates, such as project management or welding, as well as state-issued occupational licenses and registered apprenticeship programs. By broadening these tax benefits, the bill seeks to make it more affordable for workers to gain specialized skills and maintain professional standing in their chosen fields.