Message from Rob Wittman on the future of education:
Dear Friends and Neighbors,
Have you heard of the Freedom to Invest in Tomorrow’s Workforce Act? I was proud to introduce this piece of legislation again in the 119th Congress, and even prouder to see it signed into law last July.
529 plans are education savings accounts that are exempt from federal taxes when funds are used to pay for qualified education expenses. Historically, qualified education expenses have included college, graduate or professional degrees; programs from Title IV-accredited institutions; registered apprenticeships; up to $10,000/year in K-12 tuition; and certain student loan repayments. My legislation expands the definition of qualified education expenses to include credential program tuition; testing fees; required books and equipment; continuing education and credential renewal; and other charges required to obtain and maintain a postsecondary credential.
The Freedom to Invest in Tomorrow’s Workforce Act allows individuals to use their 529 savings account funds to pay for post-secondary professional training and apprenticeship programs. This expands access to alternative education pathways and high-paying jobs — broadening education and career opportunities for both young Americans who are just getting on their feet and workers of every career stage seeking professional growth.
Home to the largest 529 program in the country, this legislation is especially meaningful to Virginia. Expanding 529 plan eligibility directly supports the Commonwealth through the development of a skilled workforce that can meet the challenges of the 21st century — attracting more businesses, fostering economic growth, and enhancing the quality of life for our residents.
The Freedom to Invest in Tomorrow’s Workforce Act makes a meaningful commitment to the American workforce by recognizing the value of all post-secondary educational paths and providing opportunities for success in every career path.
If you have benefited from the Freedom to Invest in Tomorrow’s Workforce Act, I want to hear from you. Please don’t hesitate to reach out to one of my offices and share your experience with a member of my team. I look forward to hearing about the positive impact this legislation has had in the First District.
Washington, D.C.: (202)225-4261
Glen Allen: (804)401-4120
Yorktown: (757)527-6270
Sincerely,
Rob Wittman
Member of Congress, Virginia’s 1st District