House Committee Approves Education and Workforce Freedom Act

On July 9, the U.S. House Committee on Ways and Means approved H.R. 8915, the Education and Workforce Freedom Act, by a vote of 23-13. The bill will now head to the House floor. 

The bill would allow families, students and workers to choose an education most suited to their needs by allowing tax-exempt distributions from 529 plans to be used for additional educational expenses in connection with attendance at K-12 school (including homeschool).

It would also allow for 529s to be used to pay for expenses associated with obtaining or maintaining recognized postsecondary credentials and licenses.