Political reality leads Obama to back off of tax increase on college savings plans

NY Times:

Obama Relents on Proposal to End ‘529’ College Savings Plans


The president, facing pressure from both parties, dropped from his budget a proposal to effectively end college savings accounts known as 529s.
The tax increase on the savings plans was part of a scheme to help pay for "free" junior college programs the President had been pushing.  He dropped it because if failed to get the political support needed to make the change.  A smart President would have been talking to Congress to judge its acceptance before making such a proposal.  This President and his staff lack the basic political skills to even make a call before making a proposal.

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