Home Latest News WFCA Supports Bill to Expand Certain Education Savings Plans
Home Latest News WFCA Supports Bill to Expand Certain Education Savings Plans

WFCA Supports Bill to Expand Certain Education Savings Plans

The World Floor Covering Association (WFCA) has announced its involvement in the Tomorrow’s Workforce Coalition, an alliance comprising more than 500 trade associations, professional societies, businesses and employers from more than 40 industries.

The primary goal of this alliance is to advocate for the passage of the Freedom to Invest in Tomorrow’s Workforce Act (S. 722 / H.R. 1477). Spearheaded by the American Society of Association Executives (ASAE) and the Professional Certification Coalition (PCC), the Tomorrow’s Workforce Coalition aims to foster a robust workforce through enhanced education opportunities and credentialing.

The act, which has bipartisan sponsorship in the U.S. House and Senate, proposes a crucial expansion of qualified expenses under tax-advantaged 529 education savings plans to include postsecondary training and credentialing, such as licenses and professional certifications. By supporting this act, WFCA emphasizes its dedication to providing tax-advantaged resources that empower families, students and workers, regardless of their educational background or degree status, to pursue career growth and mid-career change, or pathways that diverge from a typical academic route.

Workers and families could use 529 plans to help cover the following:

  • credential program tuition, including prep courses
  • testing fees, including practice exams
  • required books and equipment
  • continuing education and credential renewal
  • other charges required to obtain and maintain a postsecondary credential

“WFCA, representing a broad spectrum of industry stakeholders, recognizes the vital role played by floorcovering installers within the flooring industry,” said Scott Humphrey, WFCA CEO. “These skilled professionals rely on specialized training and certifications to ensure the highest standards of craftsmanship and service. Expanding eligible uses for 529 plans would empower workers of any educational background, skill level, or age and would benefit all industries and professions that rely on employees with specialized training or recognized credentials and certifications, including CFI certifications.”

The bill is led by Representatives Rob Wittman (R-Va.) and Abigail Spanberger (D-Va.) in the U.S. House of Representatives and Senators Amy Klobuchar (D-Minn.) and Mike Braun (R-Ind.) in the U.S. Senate.

For more information, visit https://wfca.org.


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