As Senator, Obama Voted to Make 529 College Savings Plans Permanent
On August 3, 2006, then-Senator Barack Obama voted to make the current tax treatment of 529 college savings plans permanent.
President Obama’s recently proposed tax plan, however, reverses this vote on 529 plans.
The vote on H.R. 4 — the Pension Protection Act of 2006 — took place in the second session of the 109th Congress, vote #230.
H.R. 4 made permanent the 529 plan expansion in the otherwise temporary 2001 Bush tax cut package (the Economic Growth and Tax Relief Reconciliation Act of 2001 — EGTRRA). The vote for H.R. 4 enshrined into permanent law the current tax-free growth of these college savings plans if used for tuition and fees. The 529 provision was in Section 1304 of the legislation.
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He voted yes to the 529 plan when he was in the Senate and he didn't know he would become president. It was a good plan then, he had 2 young girls and it was a good way to save for college, just like the millions of other Americans who put money in the plan also. Now that he's president he no longer has to worry about money because the American people will pay for his kids to go to college. If that doesn't show his thought are only about his family not the families of will have to save or get student loans for their kids to go to college. So he's saying I got mine screw the rest of you. obama is such a liar he forgot that he voted yes to the 529 plan as a senator and now it's ok to end the plan. He's going to say you can still use the plan if you want to but it's going to be taxed. What sense would it do to use it when you can put money in a plan where you can draw intrest.Just one more hit on the lower and middle class.
Reminds you of a Liar which obama is, a Liar has to tell lie to try and get out of the lie he told before. And obama finds himself of having to tell a whole lot of lies.
Shocking...the man that also said marriage was between a man and a woman.