# 119-hr-8714: Skill Savings Account Act of 2026

119-hr-8714, Skill Savings Account Act of 2026, is a 119th Congress bill sponsored by Rep. Thompson, Glenn [R-PA-15] (R-PA); status introduced; PRIA reads it as touching household money (as of 2026-09-21).

- Canonical: https://policyrisk.com/legislation/119-hr-8714
- As of: 2026-09-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-8714
- Congress: 119
- Title: Skill Savings Account Act of 2026
- Status: introduced
- Introduced: 2026-05-07
- Sponsor: Rep. Thompson, Glenn [R-PA-15] (R-PA)
- Cosponsors: 1
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-09-21

## Summary

**Creates a tax-free "Skill Savings Account" for workers to pay job-related education.** This bill would let employed individuals and their employers set up a U.S. trust that pays qualified education expenses tax-free, with specific contribution limits, trust rules, reporting, and penalties.

## Cosponsors (1)

- Rep. Bonamici, Suzanne [D-OR-1] (D-OR), 2026-05-07T00:00:00.000Z

## Provisions PRIA read

- Skill savings accounts for workers: benefit, high. If enacted, the bill would create a new Skill Savings Account (SSA) for eligible employees. Employee and employer cash contributions to an SSA would be excluded from the employee's gross income, subject to statutory limits. Withdrawals used only for the beneficiary's qualified education expenses wo…
- Contribution limits for skill accounts: cost, high. If enacted, employer SSA contributions would be excludable from an employee's income only up to the excess of $5,250 over any amount excluded under section 127(a)(1) for that year. If enacted, employee cash contributions (aggregated across accounts) would be excludable only to the extent they do no…
- Penalties and excess rules for accounts: mixed, medium. If enacted, SSAs would be subject to excess-contribution rules under section 4973. An excess contribution generally means amounts not excludable under the SSA rules plus certain prior-year balances after specified reductions. If you return excess contributions by the tax filing deadline (including…

## Related bills

- 119-hr-7567: Farm, Food, and National Security Act of 2026
- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-10421: Transforming Education for the Future Act
- 119-hr-3816: Weather Act Reauthorization Act of 2025
- 119-hr-137: TCJA Permanency Act

## Sources
- [119-hr-8714 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/8714)

## Related
- [119-hr-7567: Farm, Food, and National Security Act of 2026](https://policyrisk.com/legislation/119-hr-7567)
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-10421: Transforming Education for the Future Act](https://policyrisk.com/legislation/119-hr-10421)
- [119-hr-3816: Weather Act Reauthorization Act of 2025](https://policyrisk.com/legislation/119-hr-3816)
- [119-hr-137: TCJA Permanency Act](https://policyrisk.com/legislation/119-hr-137)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-8714 (as of 2026-09-21).