The comprehensive tax reform package passed by Congress last year included an amendment that expanded tax-advantaged 529 savings plans to include K-12 tuition at public, private, and religious schools. This represented a monumental and positive shift for 529 plans, which were previously limited to higher education expenses and had gone 20 years without any major policy innovation.

With the introduction of Sen. Ted Cruz’s Student Empowerment Act, Congress has yet another opportunity to expand and strengthen 529 plans across the country. This bill would expand eligible expenses for K-12 students to new categories like tutoring services, testing costs, and textbook purchases. It would also grant homeschoolers with equal access to 529 plans for their educational expenses and allow the plans to be used by families of children with disabilities for educational therapies.