Daines Introduces Bipartisan Legislation to Expand Education Savings Plans to Skilled Workers

Press Release

U.S. Senator Steve Daines introduced bipartisan legislation with Sens. Cory Booker (D-NJ), Lisa Murkowski (R-AK) and Elizabeth Warren (D-MA) to expand education savings plans to skilled workers to help cover training costs, including, tools, books and equipment.

"My bill will better empower people to pursue the job they want by removing barriers like training costs and will give them the support and resources necessary to make them competitive in their profession of choice," said Daines. "These are good-paying jobs."

Background:

Named after Section 529 of the IRS Code, a 529 plan is a tax advantaged savings account intended to be used for higher and continuing education institutions, as well as costs associated with them.
Currently, Montanans who attend an apprentice program to master the trade are locked out from accessing 529 plan savings. Daines' bill will give workers who attend an apprenticeship training program over higher education the same access to savings.
Daines' bill would expand 529 plans to include credited apprenticeship programs for skill-based jobs, including professions like construction, mechanics, plumbing and bricklaying.

The Legislation is Supported By:

Construction Employers of America
FCA International
International Association of Heat and Frost Insulators and Allied Workers
International Council of Employers of Bricklayers and Allied Craftworkers
International Brotherhood of Electrical Workers
Mechanical Contractors Association of America
National Electrical Contractors Association
Sheet Metal & Air Conditioning Contractors
National Association Signatory Wall and Ceiling Contractors Alliance?The Association of Union Contractors
United Brotherhood of Carpenters

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