Political Quotes

“in President Obama's State of the Union Address last week, he outlined an agenda focused on what he called middle-class economics, which he described as providing Americans with the ``tools they needed to go as far as their effort and their dreams will take them.'' Our country thrives when hard-working Americans prosper. The President was right to praise policies, such as the GI bill and Social Security, that have helped us to do just that. That is why I am perplexed at the President's proposal to tax the earnings of 529 college savings plan accounts. Rather than help American families meet the onerous cost of a college education, this new tax would greatly diminish the benefits of a law that is helping millions of parents plan for their children's futures. The President's proposal undermines the very values we should be promoting--families making sacrifices today in order to better provide for their children tomorrow. The President's plan would also lead to more student loan debt for many young people at a time when concern over the level of debt is rising. I would also note that the President has proposed eliminating the tax deduction on interest on student loan payments. One of the first questions new parents ask themselves is how they will be able to pay for their children's education. For the past 14 years the 529 accounts have been an important part of the answer.…”