More in the cross-post on the MRC's NewsBusters blog.
Introducing a segment on Thursday's NBC Today about parents saving for college, co-host Matt Lauer and the show's financial editor Jean Chatzky spent a scant twenty-four seconds on President Obama's recently announced proposal to hike taxes on college savings accounts. Lauer noted: "Talk to me a little bit about what President Obama was referring to when he gave the State of the Union address and he talked about proposing changes to 529 accounts."
Chatzsky explained the significance of the plan: "Yeah, he didn't actually say it, but he issued some language about it and essentially he's looking at taxing money when it comes out of 529 plans. Right now withdrawals are tax-free. That would be a big deal if it happens, but we're going to have to wait and see."