This amendment to the Republican tax plan offered by Sen. Ted Cruz, R-Texas, expands the use of tax-exempt “529 accounts” for K-12 education by permitting funds from these accounts to be used for private, religious, or homeschooling expenses as for up to $10,000 of tuition.
This amendment supports families who want to save money for their children’s education by sparing them from a tax penalty on any interest that accrues in these education savings accounts.
The Senate approved the Cruz amendment after Vice President Mike Pence broke a 50-50 tie on December 1, 2017.
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Conservative position: YES
Cortez Masto (D-NV)
Van Hollen (D-MD)