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Obama's College Savings Plan Debacle

By Charles Lane, Washington Post - January 29, 2015

Under fire from Republicans and even House Democratic leaders, the White House withdrew this week its plan to end the tax-free status of the college savings accounts known as 529 plans. It’s the first political debacle of 2015 for President Obama on the ­domestic-policy front — but a part of me almost admires him for trying this particular gambit.

The idea of taxing 529s was, in hindsight, so politically naive that only an administration guided by a genuine belief that it was the right thing to do could have proposed it.

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