Republicans want to give rich people a tax cut on private school tuition
|11/18/2017||Posted by BusinessMediaguide.Com under General World News||
- The GOP tax plan would allow families to pull money out of 529 accounts to pay for K-12 schools.
- 529 accounts are savings accounts that grow tax-free.
- Currently, families can only pull money out of 529 accounts to pay for college.
Both versions include a similar break seemingly aimed at wealthy families: the ability to withdraw from 529 plans to fund K-12 education.