Northwest PA News

U.S. Representatives Glenn "GT" Thompson (R-PA-15), Suzanne Bonamici (D-OR-1), Brian Fitzpatrick (R-PA-1), and Brad Schneider (D-IL-10) have introduced the bipartisan Skills Investment Act, aiming to improve access to skills training for workers across the United States. The legislation seeks to expand tax-advantaged savings opportunities through Coverdell Education Savings Accounts (ESAs) for those pursuing new job skills and career advancement.

Representative Thompson emphasized the importance of enhancing educational opportunities as a foundation for a skilled workforce. "Investing in a skilled workforce begins with enhancing educational opportunities," he stated. He also expressed pride in supporting the Skills Investment Act, which provides additional resources for workers seeking better career prospects.

Representative Bonamici highlighted the potential benefits of the Act for Oregonians and Americans at large, noting that it will facilitate access to career and technical education and workforce training. She remarked, "Education is a good investment, and the Skills Investment Act will help more Oregonians and Americans access career and technical education and workforce training."

The need for a skilled workforce was underscored by Representative Fitzpatrick, who called for expanded flexibility in education savings accounts to allow broader access to trade schools and skill training programs. He noted, "By equipping individuals and families with the resources to advance their careers and achieve financial stability, our bipartisan, bicameral initiative will not only empower them to build brighter futures but strengthen our workforce."

Representative Schneider focused on ensuring accessible pathways to high-paying jobs for American workers. He said, "To sustain and grow the American economy, American workers must have accessible pathways to high-paying jobs."

The Skills Investment Act has received endorsements from several organizations including the National Skills Coalition, Association for Career and Technical Education, Advance CTE, National Association of Workforce Boards, AASA – The School Superintendents Association, American Council on Education, Society for Human Resource Management, Jobs for the Future, and NAF.

The legislation proposes raising the age limit on Coverdell accounts from 30 to 70 years old while broadening qualifying educational expenses. It also introduces provisions allowing individuals over 30 years old to contribute $4,000 annually tax-free into their Coverdell account. Additionally, employers would receive a 25% tax credit for contributions made towards an employee’s Coverdell account.