Obama Drops Plan To Raise Taxes On ‘529’ College Savings Accounts - Yahoo News

January 28, 2015

To pay for his ideas, he proposed several changes to restrict use of tax-advantaged savings accounts. The administration argued that the accountssuch as the 529 accountsdisproportionately benefit higher-income families. But the blowback over his call to scale back the tax advantages of 529 plans showed the political difficulty of making such changes. A White House official said the 529 proposal was a very small component of the presidents overall plan to deliver $50 billion in education tax cuts for middle-class families. We proposed it because we thought it was a sensible approach, part of consolidating six programs to two and expanding and better targeting education tax relief for the middle class. Mr.
Source: http://news.yahoo.com/obama-drops-plan-to-raise-taxes-on--529--college-savings-accounts-232937566.html

Obama dropping plan to tax college savings - Yahoo News

Libya has two rival governments and powerful militias are battling for territory. In Yemen, on Saudi Arabia's southern border, President Abdrabuh Mansur Hadi, a key US ally in the fight against Al-Qaeda, tendered his resignation last week after Shiite militiamen kidnapped his chief of staff and seized the presidential palace. Salman Shaikh, director of the Brookings Doha Centre, said "the relationship is not what it was". Ties were better under both George Bush and his son George W. Bush, who had a "relationship that was very much built on personal foundations," Shaikh contended. View gallery A US F-15E Strike Eagle flies over northern Iraq after conducting airstrikes here. on Islamic State milita The late king had a strained personal relationship with Obama, said Frederic Wehrey, of the US-based Carnegie Endowment for International Peace Middle East Programme.
Source: http://news.yahoo.com/obama-leads-heavyweight-mission-key-ally-saudi-104848209.html

Obama leads heavyweight mission to key ally Saudi - Yahoo News

President Barack Obama delivers a speech at Siri Fort Auditorium in New Delhi January 27, 2015. WASHINGTON (Reuters) - President Barack Obama has dropped a controversial proposal to tax "529" college savings plans, a White House official said on Tuesday, calling it a "distraction" from administration efforts to provide middle-class tax relief. The proposal had aroused opposition from Republicans and Democrats in Congress. A source familiar with the situation said House of Representatives Democratic leader Nancy Pelosi had pressed senior administration officials to drop the proposal as she flew with Obama on Air Force One from India to Saudi Arabia. "Given it has become such a distraction, were not going to ask Congress to pass the 529 provision so that they can instead focus on delivering a larger package of education tax relief that has bipartisan support," the White House official said. The official said the plan had been "a very small component of the presidents overall plan to deliver $50 billion in education tax cuts for middle-class families." The "529" plans are sponsored by states and run by investment management companies. Withdrawals from the accounts can be used tax-free to pay for qualified education expenses at any college or university in the country, such as tuition, fees and books.
Source: http://news.yahoo.com/obama-dropping-plan-tax-college-savings-232745568.html

Obama defends Saudi relationship: 'Sometimes we have to balance' - CNN.com

pressure to advance human rights or encourage political reforms isn't always appreciated and "oftentimes that makes some of our allies uncomfortable. It makes them frustrated," he said. "And you know, some of them listen and some don't," Obama said. In the list of those who don't, Obama recalled the unraveling of the Egyptian dictatorship of Hosni Mubarak, the former president of Egypt who was overthrown in Egypt's 2011 revolution. Mubarak was one of the U.S.'s closest allies in the region during his three decades in office, thanks in large part to a strong security agreement and Mubarak's work to maintain peace with Israel. Obama said that he warned Mubarak that the massive protests in Tahrir Square were not simply going to vanish, urging Mubarak to "get out in front of reform" and become "the father of the Egyptian democracy." "I said, 'Mr.
Source: http://www.cnn.com/2015/01/27/politics/obama-saudi-arabia-zakaria/index.html

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