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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