Jacquelyn Martin/AP The Obama administration surely didn't think it was penalizing its core middle-class constituency when it proposed, earlier this month, to raise taxes on college savings accounts known as 529s. After all, a majority of those accounts are held by people earning more than $150,000 a year, and the administration was proposing the change to pay for expanding a tuition tax credit for families making less than that.
Topics: jacquelyn martin/ap the obama democrats house minority leader nancy pelosi president obama so an democratic speaker john boehner jonathan weisman the new york times representative dave camp the obama white house so republican republicans class tax college administration percent plan families people accounts middle proposed change rich earning top proposing year taxes powerful credit tuition savings benefit scrap proposal increase aid wealthier earlier
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