Obama to Drop College Savings Tax Proposal Targeted Frequently by NRCC

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Jack Fitzpatrick
Jan. 28, 2015, 5 a.m.

Pres­id­ent Obama will drop his pro­pos­al to tax the earn­ings on 529 Plans, or col­lege sav­ings ac­counts, after it re­ceived sub­stan­tial cri­ti­cism. “A White House of­fi­cial, speak­ing on con­di­tion of an­onym­ity, said the is­sue had be­come a dis­trac­tion from the pres­id­ent’s broad­er plan to ex­pand and sim­pli­fy tax breaks for edu­ca­tion.” (Bloomberg)

The Na­tion­al Re­pub­lic­an Con­gres­sion­al Com­mit­tee sent out re­peated re­leases cri­ti­ciz­ing swing-dis­trict Demo­crats who sup­por­ted Obama’s plan, in­clud­ing Reps. Patrick Murphy (D-FL 18), Ann McLane Kuster (D-NH 01), Ann Kirk­patrick (D-AZ 01), Brad Ash­ford (D-NE 02), and Col­lin Peterson (D-MN 07), as well as four against Rep. Gwen Gra­ham (D-FL 02). (Hot­line re­port­ing)


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