WASHINGTON — Today, the House of Representatives passed H.R. 529, bipartisan legislation introduced by Reps. Lynn Jenkins (R-KS) and Ron Kind (D-WI) that would expand, modernize, and strengthen tax-free 529 college-savings plans. Upon passage, Ways and Means Committee Chairman Paul Ryan (R-WI) issued the following statement.
“For many American families, finding a way to pay for college is a mounting challenge. 529s are a great way to save for an education, and we should strengthen these important tools, not tax them away. This bill will make it easier for families to use these accounts and give them a greater sense of control over their future. On both policy and principle, this bill gets it right, and I want to thank Congresswoman Jenkins for her work on this issue.”