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Tipsheet

Obama Gets Punished for Education Tax Idea

Last month Obama was talking about taxing 529 plans for college savings. This month the GOP passed a bill to expand the use of 529 plans to include reimbursement for computers, in part to punish Obam. The U.S. House voted for 401 to 20, to allow families to use money from 529 plans on computers for students. The size of the majority shows that there's broad bipartisan support for the legislation which still has to pass the Senate and then go to the president's desk for signature before becoming law. While it's hard to predict what will happen in the hyper partisan DC, most experts believe the measure will easily pass in the Senate and the president will sign it. I don't think that there's a more important tool to education the states then the personal computer. It's good that they've restored this benefit...maybe.

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