Tax Bills Extend 529-Type Plans to K-12

Dec 4, 2017, 2:32 PM

(from the Washington Post) A last-minute amendment added to the Senate tax bill passed early Saturday would let parents use a special tax-free college savings account to pay tuition at private K-12 schools. Introduced by Sen. Ted Cruz (R-Tex.), the amendment is virtually identical to a provision in the House version of the bill. Both let parents spend up to $10,000 from tax-free college savings accounts. All Democrats and two GOP senators opposed the amendment. 

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