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Helping Families Send Their Children To College

December 16, 2015

On Tuesday, the House and Senate announced that the tax extenders package, to be voted on later this week, includes Congresswoman Lynn Jenkins’ (KS-02) bipartisan legislation, H.R. 529, to modernize, improve and strengthen 529 college savings plans. Congresswoman Jenkins released the following statement praising the bill’s inclusion:

“529 college savings plans are the perfect tool to help hard-working families save so that they can send their children to the higher education institution of their choice. I am proud to champion these plans in Congress, which enable folks across the country to better prepare and craft a brighter future for their children.”

H.R. 529 Timeline

-          Reps. Lynn Jenkins, Ron Kind (D-WI) introduce H.R. 529 to modernize, improve and strengthen 529 college savings plans.

-          President Obama announces plans to tax 529 college savings plans, hurting hard-working families. The President is forced to drop his proposal after universal bipartisan opposition.

-          H.R. 529 passes in the House of Representatives with an overwhelming bipartisan vote of 401-20.

-          The Senate Finance Committee unanimously passes the Senate companion legislation to H.R. 529 out of committee.

 

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