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

U.K.’s queen of tech is turning London into Silicon Valley

U.K.’s queen of tech is turning London into Silicon Valley

Shields, a Pa. native and former Silicon Valley executive, took her expertise across the Atlantic.

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.

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 edge higher in midday trading; Apple up sharply

US stocks edge higher in midday trading; Apple up sharply

Strong earnings from Apple, Boeing and other companies helped nudge U.S. stocks slightly higher in midday trading Wednesday.

Wonkblog

Google predicts a Seattle Superbowl win

Google predicts a Seattle Superbowl win

Google searches have predicted six of the past eight Superbowl victors.

Charted: The 20 deadliest jobs in America

Charted: The 20 deadliest jobs in America

Logging workers are at the top of the list.

The disgusting amount of food Americans eat during the Super Bowl, in one chart

It’s the most caloric week of the year, and it’s not even close.

More from Wonkblog

On Leadership

The biggest mass layoffs of the past two decades

The biggest mass layoffs of the past two decades

Here’s a look at how IBM’s layoffs could compare to other big cuts at U.S. organizations over the years.

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.

More from On Leadership

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

Valve’s former in-house economist is Greece’s new finance minister

Valve’s former in-house economist is Greece’s new finance minister

Gabe Newell personally recruited Yanis Varoufakis for the job.

The Alibaba spin-off means Marissa Mayer will lose her safety net

The Alibaba spin-off means Marissa Mayer will lose her safety net

Without Alibaba cash to cushion lackluster revenues, Mayer might have a shorter runway for turning around Yahoo.

More from The Switch