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Wednesday, January 28, 2015

Obama Walks Back Proposed Tax on College Savings Plans

The White House balked on a proposed tax on college savings plans, known as 529s, Tuesday after bipartisan criticism over the proposal. "Given it has become such a distraction," a White House official said, "we're not going to ask Congress to pass the 529 provision so that they can instead focus on delivering a larger package of education tax relief that has bipartisan support."

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