Tax Free Education

NPR's Claudio Sanchez reports that a bill that would allow families to avoid paying federal taxes on money saved for education, is scheduled for a vote today in the U.S. House of Representatives. The bill, sponsored by Congressman Kenny Hulsof of Montana, would increase the current tax-free education savings account limit from five hundred to two thousand dollars. It would allow religious groups, businesses, and non-profit organizations to create these accounts. House Democrats and the Clinton administration plan to block the proposal because they say it provides little benefit to families with children in public education.

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