NTF Issue Paper: cong11.doc. 1-18.
NEBRASKA TAXPAYERS FOR FREEDOM ISSUE PAPER:
CONG. ADRIAN SMITH CHAMPIONS HOME SCHOOLS & SEASONED CITIZENS.
BACKGROUND. The recent passage of the new federal tax reform bill now allows taxpayers to use their 529 savings accounts for expenses at private and parochial elementary and secondary schools. However, bill sponsors deleted this privilege for home school parents and their children. As public schools in Nebraska increasingly shove leftist pabulum down our children’s throats, more parents are choosing home schooling networks as the best possible education choice for their children. Approximately 15% of NE families now participate non-public, compared to 11% in 2010. About 11% of NE school age students enrolled in non-public schools in the 2016-17 school year, more than the 10% figure nationally. In response, Cong. Adrian Smith has co-sponsored a bill to open 529 options to home schoolers.
THE BILL. HR 4736 permits 529 savings account holders to set aside funds for home school tuition expenses, curriculum and curricular materials, other instructional materials, including those found online, tuition for tutoring or educational classes outside the home, and educational therapies for students with disabilities. This bill now referred to the House Committee on Ways & Means.
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BACKGROUND. Since the inception of Social Security, recipients have found themselves locked into a strictly limited choice of benefit payments. This restriction has prevented senior citizens from accessing and utilizing their Social Security savings in options that they believe best meet their needs and desires. Cong. Adrian Smith now has co-sponsored a bill to provide needed options to SS recipients.
THE BILL. HR 3112 would allow SS benefit recipients, beginning in 2019, to continue to receive monthly allotments.
Individuals could receive a lump sum payment at retiring, including sums that would have accrued in future years from benefit raises, using reasonable actuarial assumptions. Recipients also could request alternate monthly dispensations. The bill currently is in the House Ways & Means Subcommittee on Social Security.
TAKE ACTION NOW. Both these bills offer taxpayers free market choices. People across America have many varieties of preferences for child education, career choices, health situations, and financial needs. Workers already may claim their earned SS benefits early, on time, or later, and HR 3112 permits individuals additional options, such as claiming part of their delayed retirement benefit as a lump sum in advance. Urge your representative to support both these bills to remove unnecessary regulation over our lives and offer free market alternatives. Email netaxpayers@gmail.com for congressional contact information.
Research, documentation, and analysis for this issue paper done by Nebraska Taxpayers for Freedom. This material copyrighted by Nebraska Taxpayers for Freedom, with express prior permission granted for its use by other groups in the NE Conservative Coalition Network. 1-18. C.