FINAL VERSION OF TAX CUTS AND JOBS ACT WILL PROVIDE THE MOST SIGNIFICANT VICTORY FOR SCHOOL CHOICE MOVEMENT IN 20 YEARS
Expansion of 529 accounts will make it easier for families to save for tuition and homeschooling expenses
WASHINGTON, DC— #EdTaxCredit50 Coalition executive director Thomas Carroll issued the following statement in response to the release of the final Tax Cut and Jobs Act:
“The final Tax Cuts and Jobs Act will make it substantially easier for working- and middle-class families to save for a child’s education by allowing parents to pay for elementary and secondary education tuition and homeschooling expenses through tax-free 529 accounts.
“By taking this step, President Donald Trump and the U.S. Congress will be adopting the most significant national school-choice legislation in 20 years.
“Presently there are more than 13 million 529 college savings accounts with total savings of about $300 billion. More than 75 percent of this amount is attributable to families with incomes of $150,000 or less.
“The #EdTaxCredit50 Coalition assembled a coalition of more than 70 organizations across the nation to advocate for the expansion of 529 accounts to include K-12 tuition.”