Obama Still Believes in Taxing College Savings Plans

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Posted by John Kartch on Wednesday, January 28th, 2015, 2:42 PM PERMALINK

The White House today confirmed the Obama administration still believes in taxing college savings plans:

Question: "So you call this [taxing 529 college savings plans] a distraction. Do you still think this is a good policy? There was so much backlash particularly from middle class Americans who said - we really value these plans, so do you still stand by this as good policy?”

White House spokesman Eric Schultz: “Sure. We do.”The White House also confirmed that the tax hike on 529s will remain in the President’s official budget:

Schultz: "I do want to give you one heads up for your planning which is the 529 piece will still be in the written budget that will be released. The announcement yesterday was made after the book was in the shop to be produced so just for your planning.”

Timeline: Obama 529 Plan Hypocrisy

Obama's New State Of The Union Tax Hike On Middle Class 529 College Savers

Obama calls for $320 Billion in New Taxes

Obama's 529 College Savings Plan Tax Hike is an Assault on the American Dream

Obama Tax Hike on College Savings Plans Breaks Middle Class Tax Pledge

Obamas Make Jumbo 529 Contribution While Pushing Repeal for Everyone Else

Will Obama's 529 Tax Hike Also Hit Disabled Kids?

As Senator, Obama Voted to Make 529 College Savings Plans Permanent

Obama Praised 529 College Savings Plans in "The Audacity of Hope”


Photo Credit: 
US Embassy New Zealand