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Last week, Representatives Jeff Van Drew (D-NJ), Jim Hagedorn (R-MN) Ron Estes (R-KS), and Paul Mitchell (R-MI) unveiled the American Workforce Empowerment Act – a bipartisan solution to address the growing shortage of skilled workers to fill job openings in the technical and skilled trades. Workforce development is key to sustaining jobs and economic growth in the recreational boating industry, and NMMA, along with Viking Yacht Company and the Marine Retailers Association of the Americas (MRAA), applauded the announcement.

This American Workforce Empowerment Act empowers aspiring skilled workers to pursue vocational training by utilizing pre-tax dollars from their 529 savings plans for education, training, certain apprenticeships and the purchase of necessary tools and equipment for their vocations.

Specifically, the bill expands Section 529 eligibility to include educational and training expenses spent on any training program leading to a “recognized post-secondary credential” as defined in the Workforce Innovation and Opportunity Act (WIOA), including tools and equipment, and National Apprenticeship Act of 1937 (NAA) registered apprenticeship programs.

“The recreational boating industry needs a skilled 21st century workforce to maintain and grow our role as a significant job creator and this bill will go a long way towards addressing the workforce shortfall our businesses are facing,” said Nicole Vasilaros, NMMA senior vice president of government and legal affairs. “We thank Representatives Van Drew and Hagedorn for introducing commonsense legislation that will expand access to invaluable apprenticeship programs and we encourage all members of Congress to support this bipartisan measure.”

"As the world’s number one sport fish boat builder, the Viking Yacht Company welcomes apprenticeship programs to help us grow new skilled boat builders. Skilled labor is a great commodity for those of us in the manufacturing industry,” Patrick Healey President and CEO Viking Yacht Co.

“Even with unemployment at record lows, well-paying jobs that require skilled workers remain unfilled. Not everyone wants to pursue a four-year college education, which has led to record-levels of student debt and delayed important milestones in young peoples’ lives such as marriage and homeownership. We should incentivize and promote training and apprenticeships which can lead to a ticket to the middle-class for those who like to work with their hands and see the product of their hard work,” said Congressman Jeff Van Drew. “The bipartisan American Workforce Empowerment Act expands the list of eligible 529 savings plans activities, traditionally for higher education expenses, to include educational and training expenses, including tools and equipment, for technical training, trade skills, or industry recognized credentials.”

“We should empower workers who are willing to pursue new opportunities and make better lives for themselves, not stand in their way. We must we tear down barriers to individual success and economic development. My legislation will allow dedicated men and women to spend their own pre-tax dollars in apprenticeship programs, eliminate the significant obstacles that people wishing to pursue careers in skilled labor face and fill the existing gaps in the workforce,” said Congressman Jim Hagedorn.

“The American workforce must be ready to meet our nation’s expanding needs, and we currently face a shortage of skilled trade workers. The bipartisan American Workforce Empowerment Act will make it easier for those pursuing technical training and apprenticeships to utilize 529 savings plans to achieve their goal. I’m glad to be working with my colleagues Reps. Hagedorn, Van Drew, and Estes to enable hard-working Americans to pursue fulfilling careers,” said Congressman Paul Mitchell.

“Rep. Hagedorn’s bill is a great step toward creating a more robust workforce for our many dealers and manufacturers who have struggled to find qualified technicians,” says Matt Gruhn, President of the Marine Retailers Association of the Americas. “By expanding the types of programs eligible for payment by 529 savings plans — and most significantly, by making registered apprenticeship programs eligible – we can more readily close the gap on the more-than-21-percent of positions that have gone unfilled in our industry.”

For more information, please contact NMMA director of government relations, Clay Crabtree at [email protected].