On the recordJuly 17, 2018
I recently introduced the Skills Investment Act of 2018 with Congressman Derek Kilmer to allow American workers to invest in their own futures. This bill would create lifelong learning accounts workers could use to pay for skills-based education, career-related learning, and professional development. In an ever-changing economy, I know that such accounts would be put to good use. As co-chair of the bipartisan House Career and Technical Education Caucus, I fully support expanding access to skills-based educational opportunities and professional development. The tax treatment of these savings accounts would be similar to a health savings account. Mid-career workers could contribute up to $4,000 tax free each year, with a maximum contribution limit of $10,000. Employers would receive a 25 percent tax credit for contributions to a worker's account. Workers of all ages can use the account at any time to learn skills to make them more competitive as the economy changes. This bill is a commonsense approach to investing in the American worker. I encourage my colleagues to cosponsor it today. ____________________
