Strengthening and Expanding College Savings Plans
WASHINGTON, D.C. – House Majority Whip Steve Scalise (R-La.) today issued the below statement following House passage of H.R. 529, legislation to expand, strengthen and improve 529 savings plans.
“As a parent, there are few things more important than planning ahead and saving for your children’s college education,” Rep. Scalise said. “Unfortunately, the skyrocketing cost of college tuition is making it harder and harder for parents to help their kids receive a college education. I am blessed that my parents did everything they could to help me become the first member of my family to graduate college. Today, this is largely impossible without the assistance of 529 college savings accounts. While millions of American families want to ensure their children have a shot at a college education, President Obama wants to tax college savings accounts. This is the last thing hard-working Americans want to hear. With today’s strong bipartisan vote, the new American Congress is helping to expand, strengthen and improve 529 savings plans so that affordable college education remains within the grasp of hard-working Americans across the country.”