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





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  • 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.

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.

529 plans sound technical, but they’re basically just an investment account that allows <a target="_blank" read more >>>

Source:: BusinessInsider.Com

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