Fairness for the Trades Act

This bill would let people use money from 529 plans — savings accounts normally used for education expenses — to also buy business property and equipment in certain trades and industries, without paying taxes on those withdrawals. The industries covered include forestry, logging, fishing, hunting, various types of construction work (like building homes, roads, and bridges), specialty trade contracting, and different kinds of repair and maintenance businesses. Some limits would apply to how these tax-free withdrawals can be used.

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