Senate Should Reject Pelosi's Scrapping of Bipartisan 529 Legislation From the Secure Act

Press Releases · Jun 5, 2019

Washington—After bipartisan agreement and unanimous support from the House Ways and Means Committee in late April, Speaker Pelosi altered the Setting Every Community Up for Retirement Enhancement (SECURE) Act (H.R. 1994) at the eleventh hour due to pressure from special interest teachers’ unions. They objected to a small but important provision allowing money saved in 529 education savings accounts to be used for home education, apprenticeships, student loan expenses and education support for students with disabilities.

Speaker Pelosi gutted this provision, mirrored in Sen. Ted Cruz’s Student Empowerment Act (S. 3102), before sending the bill over to the U.S. Senate. We applaud Sen. Ted Cruz and the multiple other Senators who are objecting to H.R. 1994 and fighting to put the Student Empowerment Act back into the originally agreed upon package.

Heritage Action released the following statement from Executive Director Tim Chapman:

Expanding 529 education savings accounts would save thousands of dollars for working class families who need help paying for home education expenses, student loan costs, or education expenses for children with special needs.

The U.S. Senate should not allow Speaker Pelosi to sacrifice the interests of American families by holding bipartisan agreements hostage to the whims of special interest groups. Chairman Chuck Grassley and Senate Republicans should insist on including 529 expansions into the SECURE Act before it receives a vote.