- The Washington Times - Wednesday, December 6, 2017

Sen. Ted Cruz said Wednesday the tax plan includes school choice legislation that he introduced to give parents more control over their children’s education.

“My amendment expands 529 so now you can not only save to go to college, you can also spend from your 529 plan on K-12 education expenses — for public schools, for private schools, for religious schools, for homeschooling — up to $10,000 a year,” Mr. Cruz, Texas Republican, said on Fox News.

The 529 plans allow parents to save for college and are not subject to federal tax when used for higher education expenses by the designated student or other noted beneficiaries, but Mr. Cruz’s amendment allows parents to use that money in early education as well.

“You can save in a tax advantage plan and spend $10,000 per child,” he explained.

Mr. Cruz said the amendment was voted on 50-50 margins with Vice President Mike Pence needing to step in and break the tie in favor of the amendment on Friday. The amendment is currently in the Senate’s version of the tax plan.


Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide