Republicans want to give rich people a tax cut on private school tuition

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November 17, 2017 9:26 PM

The proposed GOP bills allow families to withdraw expenses up to $10,000 a year to pay for private elementary and high schools.

The GOP tax plan would allow families to pull money out of 529 accounts to pay for K-12 schools.
529 accounts are education savings accounts that grow tax-free.
Currently, families can only pull money out of 529 accounts to pay for college.

The GOP tax reform bill passed the House on Thursday and eyes are shifting to the Senate version next.

Both versions include a similar break seemingly aimed at wealthy families: the ability to withdraw from 529 plans to fund K-12 education.

Some school choice advocates, like the conservative Heritage Foundation, praised the proposal, arguing that it would allow families to have more access to schools, according to Education Week.

But other proponents of school choice struck out at the proposal, arguing that school choice should benefit those families who need options most.

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