What is the official ID of this bill?

The official print number for this legislation is HR 8710.

When did the legislative process begin?

The process officially started on 2024-06-12.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/118/bills/hr8710/BILLS-118hr8710ih.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

Who is the primary sponsor?

The primary sponsor is Rep. Gottheimer, Josh [D-NJ-5].

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Analysis and Potential Impact of HR 8710

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

Tax Deduction for 529 Education Savings Plan Contributions.

Q: What are the main provisions?

Key points include: You can deduct up to $10,000 annually from your taxes for contributions to 529 education savings plans. The deduction is limited to individuals whose annual adjusted gross income is $200,000 or less. This change lowers your taxable income, resulting in a smaller tax bill for the year.

This bill introduces a new tax deduction allowing citizens to subtract up to $10,000 annually from their taxable income for contributions made to a 529 education savings plan. The change aims to make saving for college easier for families by reducing their current tax liability. This deduction is available only to individuals whose adjusted gross income does not exceed $200,000.

Key points

You can deduct up to $10,000 annually from your taxes for contributions to 529 education savings plans.

The deduction is limited to individuals whose annual adjusted gross income is $200,000 or less.

This change lowers your taxable income, resulting in a smaller tax bill for the year.

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Additional Information

To amend the Internal Revenue Code of 1986 to allow a deduction for amounts contributed to a 529 plan.

Print number: HR 8710

Sponsor: Rep. Gottheimer, Josh [D-NJ-5]

Process start date: 2024-06-12

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-2.5-flash-preview-09-2025

Source data: api.congress.gov

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Tax Deduction for 529 Education Savings Plan Contributions.

Key Questions about Tax Deduction for 529 Education Savings Plan Contributions.