House Budget Reconciliation Bill Passed with Provision Empowering Insights Professionals - Articles

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House Budget Reconciliation Bill Passed with Provision Empowering Insights Professionals

House Budget Reconciliation Bill Passed with Provision Empowering Insights Professionals

Budget reconciliation legislation, which included a provision sought by the Insights Association to empower the insights industry’s workforce with more training, has passed the U.S. House of Representatives.

The Freedom to Invest in Tomorrow’s Workforce Act, which would expand qualified expenses under 529 savings plans to include postsecondary training and credentialing, such as licenses and professional certifications and certificates, passed the House by a 215-214 vote early on May 22, 2025 as part of H.R. 1 (the One Big Beautiful Bill Act). These provisions would permit certain expenses associated with obtaining or maintaining postsecondary credentials (such as licenses, certifications, or certificates) to be treated as qualified higher education expenses for purposes of 529 tax savings accounts.

Howard Fienberg, Senior VP Advocacy for the Insights Association, explained that, “It is time to turn college savings plans into career savings plans and empower insights professionals with flexible approaches to build skills and technical expertise. The industry is changing rapidly, with artificial intelligence and new modes and methodologies on the rise, and the workforce needs opportunities and avenues to grow and adapt along with it. Further, this legislation could open more opportunities to new insights professionals from outside of the traditional 4-year college paths.”

Budget reconciliation is a Congressional procedure expediting consideration of some tax, spending, and debt limit legislation, bypassing the Senate filibuster and requiring just a simple majority to vote for passage. IA reported earlier about another provision in the legislation that would ban state AI regulation for 10 years.

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. These include college, graduate or professional degrees; programs from Title IV-accredited institutions; registered apprenticeships; up to $10,000/year in K-12 tuition; and certain student loan repayments. There is approximately $450 billion nationwide in 529 accounts (according to the College Savings Plan Network).

Currently, 529s can be used for all the Masters or postgraduate programs in insights and analytics. However, if the provisions of the Freedom to Invest in Tomorrow’s Workforce Act are passed into law, funds invested in 529 accounts could be used for current or future insights professionals pursuing postsecondary training and certification in our industry, such as with Burke Institute, Cambiar, Market Research Institute International (MRII), Research Rockstar (including the Insights Professional Certificate (IPC) Specialty certificates), and RIVA.

This legislative package now heads to the U.S. Senate.

Separately from the budget reconciliation process, the House version of the Freedom to Invest in Tomorrow’s Workforce Act, H.R. 1151, has 178 cosponsors. The Senate version, S. 756, has 14 cosponsors.

The Insights Association will continue to advocate for the Freedom to Invest in Tomorrow’s Workforce Act on it own or as part of any final budget reconciliation law.

IA also encourages our members and supporters to contact their own Representatives and Senators in support of the legislation, including using this grassroots activation portal from our Tomorrow's Workforce Coalition.

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