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Thursday, November 14, 2024

Education bill passes committee; aims at expanding uses for 529 plans

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Rep. Kevin Hern, U.S. Representative for Oklahoma's 1st District | Twitter Website

Rep. Kevin Hern, U.S. Representative for Oklahoma's 1st District | Twitter Website

Washington, DC – Representative Kevin Hern’s (OK-01) Education and Workforce Freedom Act has passed out of the House Ways and Means Committee. The legislation would allow 529 plans to be used for additional educational expenses in connection with attending K-12, including homeschooling, and will also expand to include workers obtaining credentials or licenses through career technical/vocational education.

The legislation is co-sponsored by Rep. Rob Wittman (R-VA-01), Rep. Mike Collins (R-GA-10), and Rep. Brad Finstad (R-MN-01).

“President Trump’s tax cuts expanded the success of 529 accounts that enable millions of Americans to invest their hard-earned dollars towards their children’s educations,” said Rep. Hern. “At a time when inflation is hurting the American people, and the dollar is being stretched thin, 529 accounts need to be expanded to make K-12 education more affordable and also accommodate the needs of the American workforce.”

“More than 16 million Americans use 529 accounts to save and invest their hard-earned money in their children’s future,” said Chairman Smith. “Congress can do more to ensure these accounts are flexible and available to more families so they can pursue the educational path that is right for them. Thanks to Congressman Hern’s leadership, this legislation, the Education and Workforce Freedom Act, will allow 529 plans to be used for additional educational expenses in connection with attending K-12 and even homeschool, and it will also be expanded to include workers getting credentials or licenses through career technical/vocational education. This is an incredible step forward that will unleash a new wave of educational hope, opportunity, and freedom for millions of American students, workers, and their families.”

“I’ve met with local businesses, truckers, manufacturers, tradesmen, and healthcare facilities across southern Minnesota, and many of them are facing an unprecedented workforce shortage and an increasing need for skilled labor,” said Rep. Finstad. “The Education and Workforce Freedom Act ensures that young people, especially those entering the trades, have access to the programs and resources they need to meet the demands of today’s workforce and succeed. I am pleased to see that this legislation passed the House Ways and Means Committee and I look forward to its progress through the legislative process.”

“529 Plans are a vital tool for families to invest in their child’s education,” said Rep. Collins. “I am proud to have helped craft this legislation which expands the use of 529s to all kinds of widely recognized trades including pilot programs, aircraft mechanics schools, Commercial Driver’s License training, and more. This bill will give all Americans aspiring to something other than just a four-year degree another option to save for school achieve their dreams build a career.”

“The majority of America’s workforce consists of middle-skill jobs that require more than a high school education but not a bachelor’s degree key industries are struggling find adequately trained workers fill these roles,” said Rep Wittman.“The Education Workforce Freedom Act expand Americans’ access resources pay post-secondary credentialing licensing programs help obtain retain good-paying jobs.” proud critical piece pass House urge colleagues support comes floor.

Rep Hern remarks HERE read full bill text HERE.

Background Information

Rep Hern supported American Society Association Executives Tomorrow's Workforce Coalition Professional Certification Coalition Job Creators Network.

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