Sheila Jackson Lee: “I thank the gentleman from Illinois, I thank the gentlelady, and I thank the Speaker. It is good news to be able to come…”

“I thank the gentleman from Illinois, I thank the gentlelady, and I thank the Speaker. It is good news to be able to come on the floor of the House and be able to speak to hardworking parents and the basis of all of our joy when we are giving an opportunity for our young people to be able to participate in higher learning, in this instance, college education. The 529 fix, if you will, deals with the savings accounts and tax-free disbursements for the purpose of paying for college tuition, purchasing college credits, and other qualified educational expenses. I do want to join my colleague from Wisconsin and add that the idea of other equipment dealing with the new technology special needs services is crucial. I want to thank Mr. Davis for his astute work in the committee, looking to make this a little bit more balanced. Certainly we are appreciative of those who have been successful and have achieved financial success. I enjoy that. But I do think with our concern about a deficit--which, by the way, has been reduced substantially under President Barack Obama--that this idea that Mr. Davis had would have been a worthy inclusion into this legislation. However, I am grateful, again, that we are now high tech and the 529 accounts include computers and software as qualified educational expenses. It would also allow for refunded tuition, educational expenses, particularly if a student withdraws due to illness.…”