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Republicans Want To Give Rich People A Tax Cut On Private School Tuition

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News video: Republicans Want To Give Rich People A Tax Cut On Private School TuitionRepublicans Want To Give Rich People A Tax Cut On Private School Tuition

The GOP tax reform bill passed the House on Thursday and eyes are shifting to the Senate version next.

Both versions include a similar break seemingly aimed at wealthy families: the ability to withdraw from 529 plans to fund K-12 education.

529 plans sound technical, but they're basically just an investment account that allows college savings to grow tax-free, similarly to saving for retirement in an IRA..

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