Banks Introduces Education Savings Accounts for Military Families Act
Washington, January 24, 2023
WASHINGTON, D.C.—Today, House Education and the Workforce Committee Member Representative Jim Banks re-introduced the Education Savings Accounts for Military Families Act of 2023. Senator Ted Cruz (R-TX) reintroduced companion legislation in the Senate.
The bill, which comes during National School Choice Week, addresses a critical problem facing many American military families by allowing them to request the creation of an education savings account (ESA) from the Secretary of Education to pay for their children’s applicable education expenses.
Said Rep. Banks, “Roughly a third of military families feel as though the quality of their children’s education is so inadequate that they’ve considered quitting. This is both a serious national-security issue and a moral issue. Our servicemembers deserve more than gratitude and respect, they deserve the right to exercise greater freedom over their children’s education. That’s exactly what my bill does.”
The legislation is cosponsored by six other House Republicans: Reps. Patrick McHenry (R-NC), Andy Barr (R-KY), Doug Lamborn (R-CO), Rob Wittman (R-VA), Larry Bucshon (R-IN) and David Schweikert (R-AZ).
Read the bill text here.
Polling shows that for roughly a third of servicemembers, dissatisfaction with their children’s education is a key determinant of whether they continue serving. The reality is that military families overwhelmingly support school choice initiatives. A 2019 survey found that 72 percent of military respondents supported ESAs.
The Education Savings Accounts for Military Families Act of 2023 addresses the problem by amending the Elementary and Secondary Education Act of 1965 and directing the Education Secretary to allow servicemembers to request the creation of an ESA for their child into which up to $6,000 can be deposited annually.