THE HILL: GOP urges Obama to sign college savings bill.

President Obama should get on board with House Republican legislation passed this week expanding college savings plans, Rep. Jim Renacci (R-Ohio) said in the weekly Republican address.

“Why would we make saving for college even harder? We talk all the time about rewarding people who work hard and play by the rules — well, that’s what 529 plans are,” said Renacci, who touted his upbringing in a working-class union family.

“They empower families to set up accounts for their children, right from when they’re born, and then down the line, they can use that money tax-free on books, fees, tuition and room-and-board,” he added.

This week, the House passed a bill 401-20 loosening restrictions on tax incentives and expanding the college savings plan program, after Obama scuttled a proposal to eliminate tax breaks for the plan in his annual budget.

If I were in Congress, I’d introduce legislation capping tuition at tax-exempt institutions to the equivalent of the average family income. To prevent profiteering.