WFIS has heard from CAPE a report that the legislation expected to be approved today favorably resolves the four issues addressed in their outreach campaign:
- Expansion of 529 Accounts: Starting in 2018, these accounts can be used for up to $10,000 in tuition expenses annually in elementary and secondary schools.
- Section 117(d): Tax-free tuition reductions for the children of teachers and other employees in our schools remain intact.
- Section 127(a): Tax-free benefits of up to $5,250 annually for educational assistance to employees are retained.
- Teacher Tax Deduction: Educators can still take the $250 above-the-line deduction for expenses for classroom materials or professional development.
WFIS is grateful for the collaborative effort of private schools and all of our fellow state CAPE branches that resulted in thousands of messages reaching congress.