For Immediate Release:
Jan. 21, 2015

Contact: Kack Haslag
(573) 751-2853
Senator Schmitt Responds to Taxing 529 Savings Plan

JEFFERSON CITY — "Last night, the president made a number of proposals in his State of the Union Address, most of which involve higher taxes, more spending and bigger government. What President Obama told us was that he wants everyone to have access to “free” community college. What he didn’t tell us is how he intends to pay for it:  by taxing the very tool millions of people currently use to save for college, '529 plans.'

It is unconscionable that the president would even consider raising taxes on hard working families struggling to save for their children’s education. I believe this is entirely the wrong approach, and I will use every resource available to protect those tools from further taxation and government overreach."