Collins Aims to Qualify Pilot Training for Tax-Free Savings Plan

Representative Mike Collins (R-GA) has reintroduced the Aviation Workforce Development Act, H.R. 1818, to qualify FAA pilot and aircraft mechanic certification training expenses for 529 college savings plans. Rep. Collins is the primary sponsor of the bill, co-sponsors include Representatives Lucy McBath (D-GA), Jimmy Panetta (D-CA), and Mike Kelly (R-PA).

529 plans, commonly referred to as a "college fund," are tax-free investment accounts that parents have used for decades to save and use for their children's higher education. However, they were recently amended to include apprenticeships for trades, but not enough pilot and aircraft mechanic programs, per Rep. Collins' press release.

This bill, in response to the seemingly more frequent aviation accidents and mishaps, aims to apply the 529 savings plan status to all FAA-certified programs.

“This year’s safety concerns have made it clear that the commercial aviation industry needs a steady supply of pilots and aircraft mechanics to remain strong,” said Rep. Collins. “The bipartisan Aviation Workforce Development Act, H.R. 1818, amends the tax code so Americans pursuing a career in aviation have the same tools as those seeking four-year degrees with zero increased cost to taxpayers.”

Furthermore, Rep. McBath, a former flight attendant, shared that young people wanting to be pilots or aircraft mechanics need an easier path to "chase their dreams" affordably and secure the aviation industry, literally and figuratively. Rep. Collins' bill would address these problems.

“I was a flight attendant for 30 years, and I have the utmost respect for all those who want to keep passengers safe when they fly. We need to be giving our young people more opportunities to chase their dreams in an affordable way that builds our economy and strengthens our travel industry,” Rep. McBath said. “The challenges we are seeing make it all the more important that we support hard-working Americans pursuing careers in our aviation industry. I’m proud to co-lead this bill to break down barriers to education and training and I thank my colleagues for their work on this issue.”

Moreover, Rep. Panetta mentioned that "new opportunities" in the aviation industry for pilots and aircraft mechanics. must be opened, and Rep. Collins bill would accomplish this feat.

"As we look to the future of our aviation industry, it’s clear that we must open new opportunities for individuals to pursue careers as pilots and aircraft maintenance technicians,” said Rep. Panetta. “This bipartisan bill will help make the training for these critical professions more affordable by allowing 529 plans to cover aviation programs. By expanding access to these opportunities, we can support the growth of the next generation of commercial pilots and mechanics, vital to strengthening our nation's travel and tourism economy."