American Century Investments Survey Shows Support of Congressional Bill to Make Permanent College Savings Tax Exemption.KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo. -- As two members of Congress plan to introduce bi-partisan legislation today to make permanent the federal tax exemption tax exemption, immunity from the requirement of paying taxes. Federal, state, and usually local law provide exemption from taxation for a wide variety of organizations, usually not-for-profit, such as churches, colleges, universities, health care providers, various for popular 529 education savings programs, a poll by American Century Investments American Century Investments is a privately held investment management firm. Its headquarters are located at 4500 Main in Kansas City, Missouri, near the famous Country Club Plaza. It was formerly known as Twentieth Century Investments. The company was founded by James E. shows that three-quarters (76 percent) of all Americans support making the tax-free withdrawal benefit of 529 college savings plans permanent. This support is regardless of whether or not the survey respondents are currently saving for a child's college education. Rep. Melissa Hart
Melissa A. Hart (born April 4, 1962) is an American politician who is a former member of the United States House of Representatives for the Fourth Congressional District of , a Pennsylvania Republican, and Rep. Earl Pomerory, a North Dakota North Dakota, state in the N central United States. It is bordered by Minnesota, across the Red River of the North (E), South Dakota (S), Montana (W), and the Canadian provinces of Saskatchewan and Manitoba (N). Democrat, both members of the House Ways and Means WAYS AND MEANS. In legislative assemblies there is usually appointed a committee whose duties are to inquire into, and propose to the house, the ways and means to be adopted to raise funds for the use of the government. This body is called the committee of ways and means. Committee, are expected to introduce the bill to eliminate the Dec. 31, 2010, expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of the tax exemption at a press conference in Washington, D.C., this afternoon. The survey, conducted a year ago, shows that support for extending the tax benefits of 529 plans spanned the political spectrum, with self-described Democrats (75 percent), Republicans (80 percent) and Independents (77 percent) overwhelmingly positive in their support for extending the tax benefits. Almost half of the parents surveyed state that the uncertainty of the federal tax treatment of withdrawals from 529 plans is a major concern, making for a chilling effect  This article or section may deal primarily with the U.S. and may not present a worldwide view. on parents' college savings
efforts that could create a crisis in college funding in 2010 and beyond
if this provision is allowed to expire. Failure to pass the bill will
unduly penalize pe·nal·ize tr.v. pe·nal·ized, pe·nal·iz·ing, pe·nal·iz·es 1. To subject to a penalty, especially for infringement of a law or official regulation. See Synonyms at punish. 2. parents of younger children, who are just beginning to save for college and may not enjoy the promised tax benefits of 529 plans when their children reach college age. Full results of the survey from American Century This article is about the term used for American power in the 20th century. For the investment company, see American Century Investments. "American Century" is a term coined by Time follow the advisory. American Century is the program manager for Learning Quest 529 Education Savings Program and the Schwab College Savings Plan, both Kansas 529 plans available nationwide and administered by Kansas State Treasurer Noun 1. state treasurer - the treasurer for a state government financial officer, treasurer - an officer charged with receiving and disbursing funds Lynn Jenkins Lynn Jenkins (b June 10, 1963) is a Kansas Republican politician and currently the 37th State Treasurer of Kansas. She was elected to the office in 2002 and re-elected in 2006. , CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. . American Century Investments is a leading investment manager with more than 45 years of experience helping investors achieve their financial goals. Serving institutions, corporations, investment professionals and nearly 2 million individual investors, American Century offers a broad array of products across a variety of investment disciplines.
Extending 529 Plan Tax-Free Withdrawals Beyond 2010
1. Do you think Congress should...
A) Make this current tax benefit permanent 76%
-- Adults with children under 18 81%
-- Adults with no children under 18 73%
-- Parents currently using 529 plans 92%
-- Democrats 75%
-- Republicans 80%
-- Independent 77%
B) Start taxing withdrawals in 2010? 9%
C) Don't know 15%
2. Are you the parent of a child under the age of 18?
A) Yes 36%
B) No 64%
3. Do you anticipate that your child or children will pursue an
education after high school, such as college, vocational or
technical school?
A) Yes 95%
B) No 3%
C) Don't know/Refused 2%
4. Are you currently saving or investing for your children's
education high school?
A) Yes 71%
B) No 29%
5. Are you currently participating in a 529 Plan?
A) Yes 15%
B) No 82%
C) Don't know/Refused 3%
6. How concerned are you about each of the following? Please
use a scale of 1 to 5 where 5 means very concerned and 1
means not at all concerned. How concerned are you about...
Rating 4 or 5
-------------
A. Your child or children having to go into debt
to pay for education beyond high school 63%
B. Not saving enough for your child's or
children's education 62%
C. Uncertainty of the federal tax treatment of
withdrawals from 529 plans beyond 2010 47%
7. Which of the following best describes your political
affiliation?
-- Democrat 34%
-- Republican 33%
-- Independent 23%
-- Libertarian 1%
-- Green 1%
-- None 5%
-- Don't know/Refused 3%
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