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S 131 United States Senate · 117th Congress

Skills Investment Act of 2021

Summary
Skills Investment Act of 2021 This bill expands tax-favored Coverdell education savings accounts to allow the accounts to be used for educational or skill development expenses such as training services, career and technical education activities, career services, youth workforce investment activities, and adult education and literacy activities. The bill also renames the accounts Coverdell lifelong learning accounts , increases contribution limits, modifies the age-based contribution restrictions, allows a tax credit for a portion of an employer's contributions to an employee's account, and allows beneficiaries to deduct contributions made by or on behalf of the beneficiary.
Issues: ✓ Budget & TaxesSupports Budget & TaxesExpands tax-favored accounts for education/skills, increasing tax benefits and contribution limits, aligning with tax relief indicators.92% confidence ✓ EducationSupports EducationExpands tax-advantaged accounts for educational/skill development expenses, increasing access to funding for career training and adult education, directly advancing educational opportunity.92% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2021
Committee Review
Floor Vote
President
Introduced Jan 28, 2021 Last action Jan 28, 2021
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Jan 28, 2021
Committee
Read twice and referred to the Committee on Finance.
upper
Jan 28, 2021
Introduced
Introduced in Senate
upper
1 primary · 1 co-sponsor

Sponsors

Role
Legislator
Party
State
District
P
Photo of Amy Klobuchar
Amy Klobuchar
DDemocratic
MN
n/a
Co
Photo of Ben Sasse
Ben Sasse
RRepublican
NE
n/a