Washington – Today, Congresswoman Elise Stefanik (R-NY-21), member of the House Committee on Education and the Workforce, voted in support of H.R. 529—legislation to amend the Internal Revenue Code of 1986 to improve 529 college savings plans. This bipartisan legislation would expand 529 college savings plans by allowing tax free computer and equipment purchases, repealing an outdated reporting requirement, and allowing tax-free reinvestment of refunds from colleges.
“As a Member of the House Committee on Education and the Workforce, expanding access to high quality, affordable education for North Country families is a key priority of mine,” said Congresswoman Stefanik. “This bipartisan measure will help families save for college and help lower the staggering amounts of student debt that too often result from attaining a college education. I was proud to support this measure and hope the Senate will act swiftly to send it to the President’s desk.”
For more information on H.R. 529, click here.