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U.S. Representatives Brian Fitzpatrick, Derek Kilmer, Glenn Thompson, and Brad Schneider have introduced the bipartisan Skills Investment Act to support workers in accessing skills training. The legislation aims to expand Coverdell Education Savings Accounts (ESAs) so that American workers can use them for skills training, apprenticeships, and professional development. Senators Amy Klobuchar and Mike Braun have introduced a companion bill in the U.S. Senate.

Representative Fitzpatrick emphasized the importance of the bill, stating, “Americans should not be penalized for seeking new skills and a better career.” Representative Kilmer highlighted the need to equip American workers to navigate economic changes, stating, “The Skills Investment Act is designed to offer workers the opportunity to acquire essential skills so they can get new jobs and higher wages while also enabling employers to attract top talent.”

Representative Thompson expressed his support for expanding access to skills-based educational opportunities, emphasizing the importance of equipping job seekers with the necessary skills to fill in-demand positions. Representative Schneider echoed these sentiments, noting the importance of providing resources for learners to enhance their careers and help employers fill in-demand jobs.

Senator Klobuchar stressed the importance of increasing access to specialized training and education for American workers to pursue high-demand careers, while Senator Braun emphasized the need to make education savings accounts more flexible for students pursuing career and technical education.

The Skills Investment Act introduces tax-advantaged savings accounts for lifelong skills training, removing age limits on Coverdell education savings accounts and broadening qualifying educational expenses. Employers also stand to benefit from a 25% tax credit for contributing to an employee’s account.

The legislation has garnered support from various organizations, including the Association for Career and Technical Education, Advance CTE, National Association of Workforce Boards, National Career Development Association, and National Skills Coalition. Deneen Pennington, Executive Director of the National Career Development Association, expressed support for the Skills Investment Act, stating, “NCDA’s vision is for all citizens to achieve career and life goals and this Act will enable more access to additional educational and skill development.”

The Skills Investment Act aims to provide American workers with the necessary tools to succeed in the evolving 21st-century labor market, ultimately enhancing the nation's workforce and economic well-being.