Amid lots of outcries, Obama abandons mission

Posted February 2, 2015 Industry Insights, Expert Tips, Company News

President Obama dropped his proposal to cut the tax benefits under Code Sec. 529 college saving plans, a White House official reported last week.

 

The proposed elimination of such benefits—which he criticized as presenting an unfair advantage to the wealthy— sparked widespread opposition from both parties. The White House official, who characterized the uproar as a “distraction,” said the President will focus on his other education and middle-class relief tax proposals.

 


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