Freedom To Invest in Tomorrow's Workforce Act

3/7/2024, 9:08 AM

Congressional Summary of S 722

Freedom To Invest in Tomorrow's Workforce Act

This bill allows the use of funds in a qualified tuition program (commonly known as a 529 account) to pay for expenses associated with obtaining or maintaining recognized postsecondary credentials.

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Current Status of Bill S 722

Bill S 722 is currently in the status of Bill Introduced since March 8, 2023. Bill S 722 was introduced during Congress 118 and was introduced to the Senate on March 8, 2023.  Bill S 722's most recent activity was Read twice and referred to the Committee on Finance. as of March 8, 2023

Bipartisan Support of Bill S 722

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
20
Democrat Cosponsors
9
Republican Cosponsors
10
Unaffiliated Cosponsors
1

Policy Area and Potential Impact of Bill S 722

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 722

Freedom To Invest in Tomorrow's Workforce ActA bill to amend the Internal Revenue Code of 1986 to permit certain expenses associated with obtaining or maintaining recognized postsecondary credentials to be treated as qualified higher education expenses for purposes of 529 accounts.A bill to amend the Internal Revenue Code of 1986 to permit certain expenses associated with obtaining or maintaining recognized postsecondary credentials to be treated as qualified higher education expenses for purposes of 529 accounts.Freedom To Invest in Tomorrow's Workforce Act
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Sponsors and Cosponsors of S 722

Amy Klobuchar
Amy Klobuchar
Minnesota(Democrat)
Peter Welch
Peter Welch
Vermont(Democrat)
Tommy Tuberville
Tommy Tuberville
Alabama(Republican)
Eric Schmitt
Eric Schmitt
Missouri(Republican)
Rick Scott
Rick Scott
Florida(Republican)
Roger Marshall
Roger Marshall
Kansas(Republican)

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