Survey finds overwhelming public support for extending 529 tax benefits
A survey conducted by American Century Investments found that 76% of Americans support making the tax-free withdrawal benefit of 529 plans permanent. Of the 2023 adults surveyed, 11% were currently participating in a 529 plan. Nearly two-thirds of those polled were concerned about their children having to go into debt to pay for college. The federal income tax exclusion on qualified 529 withdrawals is scheduled to expire at the end of 2010, and it will require Congressional action to extend or make permanent this benefit.
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