Skill Savings Account Act of 2026

This bill would change federal tax law to create skill savings accounts that workers can use to pay for education and training costs. Money that a worker or their employer puts into the account would not count as taxable income, up to $10,000 a year from the worker and up to $5,250 a year from the employer (reduced by any other tax-free employer education help). Withdrawals used only for qualified education expenses would also be tax-free. Withdrawals used for other purposes would be taxed as income, plus an extra 20 percent tax for account holders under age 65. The changes would apply to tax years beginning after December 31, 2025.

Full text and official record on Congress.gov

Sponsors

• Glenn Thompson Republican sponsor
• 1 cosponsors