Back to School, Building for the Future

In Nebraska, August marks the close of summer and the beginning of a busy new season. It means the return of Husker football and volleyball games, final preparations ahead of harvest, and the rush of back-to-school shopping.  

Across our state, parents are helping their sons and daughters move into college dorms, sending them off on a new adventure, or getting younger students ready for their first day back in the classroom.  

The start of a new school year brings excitement and opportunity, but it also brings new expenses and important financial decisions for families. As another school year approaches, I am focused in Congress on building a stronger financial future for families across Nebraska’s Third District.

As a senior member of the House Ways and Means Committee, I helped lead the effort to pass the Working Families Tax Cuts last year. This legislation builds on our commitment to let hardworking Americans keep more of what they earn while giving parents additional tools to save, invest, and prepare for the future.

One of the most exciting provisions of this bill created tax-advantaged savings accounts for children, otherwise known as Trump Accounts. Upon creation of a Trump Account for an eligible newborn, they receive a $1,000 federal contribution to begin building a stronger financial foundation from day one. Over time, that investment can grow and help young Americans pay for higher education, purchase their first home, launch a career, or continue saving for retirement.

I also introduced the Trump Accounts for All Generations Act to permanently extend this $1,000 contribution and index it to inflation so future generations of American children receive the same opportunity to begin building long-term financial security.

The Working Families Tax Cuts also permanently expanded the Child Tax Credit to $2,200 per qualifying child, helping working parents keep more of what they earn and cover everyday expenses. We expanded 529 education savings plans, giving families greater flexibility to prepare for college or pursue technical training, apprenticeships, and other career pathways. We also strengthened the Adoption Tax Credit, expanded childcare tax relief, and provided additional savings tools to help families prepare for the future.

I also championed the Federal Scholarship Tax Credit, which expands educational opportunities for public, private, and homeschooled children—all without new government spending or burdensome federal mandates.

As students return to classrooms and campuses across Nebraska, they are preparing for the opportunities and challenges that lie ahead. In Congress, I will continue working to advance policies that strengthen the financial security of families, expand educational opportunities, and build a brighter financial future for the next generation of Nebraskans.