Return to the Latest

Wall Street Journal: Obama Proposal to Cut 529 Plan Tax Benefits Meets Opposition

By John D. McKinnon and Kristina Peterson

“A White House proposal to trim tax benefits of popular college-savings accounts is stirring opposition in Congress, and complicating negotiations over efforts to streamline education tax breaks. The proposal, part of a tax plan released by President Barack Obama over the weekend, would scale back a significant break that Republicans generally want to preserve—taxpayers’ ability to use money earned in 529 college-savings plans on a tax-free basis.” Read more here.