Georgia Governor Demands Answers From Biden in Scathing Letter About Student Killing
Trump Reveals What He Hopes to Say to Joe Biden Soon in SC...
Nikki Haley Couldn't Break 40 Percent in Her Home State...And She Went Wild
Trump Demolishes Nikki Haley in South Carolina
Why This Death of a Nonbinary Teen in Oklahoma Got the Liberal Media...
LIVE RESULTS: South Carolina GOP Primary
Coddled To Death: Mental Illness, Illegal Aliens and the Democratic Party
You Need to Die
A Quick Bible Study Vol. 206: The Tower of Babel – The Lesson...
Joe Biden Remains Silent on Laken Riley’s Death, Yet Honors George Floyd Every...
CNN Melts Down Over Trump South Carolina Victory
Pastors and Christian Ministers, Don’t Tie Your Reputation to a Political Leader
Only Conservatives Can Save the Affordable Connectivity Program
Entrepreneurs Are Evil, the State Is Benevolent: A New Study on the Content...
Newsom Says California Is a 'Model' for a 'Safe and Humane Border'

White House Tells 529 Savers To Go To Community College

White House Press Secretary Josh Earnest said Friday that middle-class families concerned about President Obama's plan to raise taxes on their college savings should just send their children to community college. 


Obama's plan raises taxes on families saving for college by eliminating the tax-free status of money withdrawn from a 529 savings accounts. "I was very surprised by the Obama 529 proposal because in many ways it is anti-middle class for families trying to afford college," founder Joe Hurley told The New York Times

Asked to "square" Obama's State of the Union claim that he wanted to make college more affordable for middle-class families with his 529 tax hike, Earnest said, "The reforms the president has proposed for the 529 program are reforms that he would consider only in the context of the other education reforms that he put forward."

"And there are a variety of proposals the president put forward," Earnest continued, "some related to the tax code, but some also related to the president's proposal to make community college free for hard working students that are getting good grades. That would have the benefit of essentially cutting the cost of a four year education in half. If you can do the first two year at a community college and have them paid for then the next to years are something you can pay for and essentially your tuition costs have been cut in half."


Over one million middle class college students are currently benefitting from 529 plans and the median income for those families was $140,000Ninety-five percent of all 529 plan users have incomes below $250,000.

Join the conversation as a VIP Member


Trending on Townhall Videos