WASHINGTON, Sept. 30 -- Sen. Ted Cruz issued the following press release:
WASHINGTON, D.C. - U.S. Sens. Ted Cruz (R-Texas) and Lisa Blunt Rochester (D-Del.) introduced the 529 Retirement Enhancement Act of 2026. This bipartisan legislation eliminates the $35,000 lifetime cap on rollovers from 529 education savings accounts to Roth IRAs.
Sen. Cruz said, "I have been committed throughout my Senate career to expanding 529 savings accounts to give parents increased flexibility to save and invest in their children's future. The law currently penalizes families when their children receive a scholarship or choose an alternative to college, leaving education savings unused, which in turn serves as a disincentive to initially use these accounts. T...