Obama scraps bid to raise taxes on ‘529’ plans

(Saul Loeb / AFP/Getty Images)

The administration retreated after a strong backlash to the proposal, which would have curtailed a major tax benefit of the popular college savings accounts.

Latest News

Your empty stadium cups are his opportunity

Your empty stadium cups are his opportunity

Cody Branchaw has an idea for keeping stadiums tidy.

Is Northern Virginia becoming two different places?

Is Northern Virginia becoming two different places?

George Mason economist suggests Arlington is turning into Santa Monica, while Tysons will fail.

Main Street Morning: Super Bowl marketing

Main Street Morning: Super Bowl marketing

Our rundown of news affecting entrepreneurs, start-ups and small businesses.

Looking for a restaurant? This space will offer five in one

Looking for a restaurant? This space will offer five in one

Created by the executives behind EquityEats, the venue will feature multiple dining concepts each month

Three takeaways from Lockheed Martin’s earnings

Three takeaways from Lockheed Martin’s earnings

The defense giant ended 2014 on a positive note, recording higher sales for the first time in two years.

Marriott to buy Canadian hotel company for $135M

Marriott to buy Canadian hotel company for $135M

The deal would make Bethesda-based Marriott the largest hotel company in Canada.

Columnists

Michelle Singletary

Michelle Singletary

529 college savings plans are much more than tax havens

Like 401(k) retirement accounts, they prevent money from being spent on anything else.

Steven Pearlstein

Steven Pearlstein

At the glimmering edge of good sense

The brawl over Emerald Cay, paradise to the 1 percent, is a parable of American capitalism gone wrong

Allan Sloan

Allan Sloan

It’s not hard to close the cash-rich split-off loophole

Require that more than 90 percent of the deal’s value (not one-third) consists of operating businesses.

Thomas Heath

Thomas Heath

The view in Potomac makes her forget that Havana condo

Aida Middel, who fled Cuba as a little girl, has the last laugh helping rich Americans solve their chores.

Market News

US stocks move higher in early trading; Apple up sharply

US stocks move higher in early trading; Apple up sharply

U.S. stocks moved higher in early trading Wednesday after very strong earnings from Apple and Boeing. The Federal Reserve is on deck, delivering its latest statement on monetary policy later in the day.

Wonkblog

Our love of antibiotics is destroying their power. That might be a branding problem.

Our love of antibiotics is destroying their power. That might be a branding problem.

Antibiotic-resistant bacteria is a plight caused by overuse. And overuse is driven by a belief the drugs can conquer all.

Senators will likely ask nominee about Fast and Furious

Senators will likely ask nominee about Fast and Furious

The confirmation hearing for Loretta E. Lynch, nominated to replace Eric Holder as attorney general, begins Wednesday.

Pension plans that could be cut under new law

Pension plans that could be cut under new law

Pension experts say these retirement plans could see big cuts

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On Leadership

To thine own self be true? Maybe not at work

To thine own self be true? Maybe not at work

It’s okay that you don’t know what your best possible self is yet. The only way you’re going to figure it out is by trying varieties of it.

A reality check about U.S. women in power

A reality check about U.S. women in power

Among 49 high-income countries, the United States ranks 33rd when it comes to women in legislative roles.

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Get There

Want to lose weight? Get on a budget.

Want to lose weight? Get on a budget.

People sticking with their New Year’s resolutions of losing weight feel more confident about their chances when they have their finances in order.

What the top 1 percent make in every state

What the top 1 percent make in every state

You don’t need to bring in millions each year to make the cut.

The Switch

A simple software update could have prevented a drone from buzzing the White House

A simple software update could have prevented a drone from buzzing the White House

The drone’s manufacturer, DJI, says it is now adding a no-fly zone for Washington in its databases.

The Switchboard: FCC tells hotels they can’t block WiFi

The Switchboard: FCC tells hotels they can’t block WiFi

Your morning helping of handpicked stories from the Switch team.

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