The Freedom to Invest in Tomorrow’s Workforce Act contains provisions that permit certain expenses associated with obtaining or maintaining post-secondary credentials to be treated as qualified higher education expenses for purposes of 529 tax savings accounts.

The Act is part of the One Big Beautiful Bill Act, which passed the Senate on 1st July. Trump signed the Act into law on 4th July.

A 529 plan is a state-sponsored education savings vehicle that is exempt from federal taxes if funds are used to pay for qualified education expenses, such as licenses, certifications or certificates.

Previously including college, graduate or professional degrees, this will now be open to insights professionals pursuing post-secondary training and certification in the industry, said the Insights Association, which sought the provisions.

“The insights industry is evolving rapidly – driven by artificial intelligence, emerging methodologies, and shifting client demands – and insights professionals must be equipped to keep up. Modernising college savings plans into broader career savings plans offers flexibility for ongoing skills development and technical training,” said Howard Fienberg, senior vice-president, advocacy, at the Insights Association.

Melanie Courtright, chief executive, the Insights Association, said: “We needed this kind of reform not only for upskilling the existing insights workforce, but also for opening up new opportunities to aspiring insights professionals who may pursue unorthodox pathways to training outside the standard four-year college degree. The power of the insights industry comes from our people.”