Student Opportunity Amendment Is Adopted Into the Tax Cuts and Jobs Act

Yesterday, I  filed an amendment to the Senate’s tax reform bill that seeks to expand 529 College Savings Plans to include K-12 elementary and secondary school tuition for public, private, and religious schools, including K-12 educational expenses for homeschool students. Vice President Mike Pence traveled to the Capitol to cast the tie breaking vote in the affirmative for the amendment, resulting in its adoption into the Senate’s tax reform bill, the Tax Cuts and Jobs Act.

Before the vote, I delivered remarks on the Senate floor, urging my colleagues to pass the amendment.

Last night, the Senate joined together to provide historic tax relief, that serves as an investment in our nation and our economic well-being. As part of this historic effort, we’ve also invested in our children and expanded educational opportunities, with the expansion of 529’s to include K-12 elementary and secondary school tuition, including educational expenses for homeschool students. By expanding choice for parents and opportunities for children, we have prioritized the education of the next generation of Americans, allowing families to save and prepare for their children’s future educational expenses. Expanding 529’s ensures that each child receives an education that meets their individual needs, instead of being forced into a one-size-fits-all approach to education, or limited to their zip code. 

Adding homeschoolers and expanding plans in general will help ensure that each child receives an education that meets their individual needs, instead of being forced into a one-size-fits- all approach to education. The expansion of 529 plans to include K-12 expenses will help working class and middle-income families save and prepare for their children’s educational expenses.

The full text of the amendment may be viewed here.

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