
In a desperate attempt at relevance, President Barack Obama thought he could pay for two promised years of free community college tuition by eliminating the tax exemption on middle-class 529 college-savings accounts. Although the Administration argued that the 529 accounts disproportionately benefit higher-income families, disenfranchising 11.6 million accounts was seen as just short of a declaration of war on “the family.” This afternoon Obama dumped his tax plan.
by Chriss W. Street28 Jan 2015, 6:21 AM PST0

Facing strong opposition from parents and both political parties, Barack Obama is abandoning plans to tax college savings accounts, also called 529s.
by Dan Riehl27 Jan 2015, 6:56 PM PST0

President Barack Obama took his State of the Union on the road yesterday, telling college students in Boise, ID that he will make two years of college “free” and “universal.” What he did not tell them, however, is that he wants to tax 529 savings plans to pay for those two free years of community college–which are already free anyway for poor students, under federal grants.
by Joel B. Pollak22 Jan 2015, 8:29 AM PST0