Senate Finance Committee Set to Approve Legislation to Improve 529 College Savings Plans

Senate Finance Committee Set to Approve Legislation to Improve 529 College Savings Plans

529 college saving plans will provide a much needed hand to middle class families as they invest in their children’s educations. This legislation is going to provide updates to 529 plans and make their setup and usage less complex. These plans are going to alleviate the strain that paying for education puts on American families. It comes as little surprise that President Obama has already tried taxing these plans, despite his previous support for them. “After public backlash from middle class families, the President reluctantly backtracked on this proposal and removed it from his budget proposal.”

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