Vote Smart's Synopsis:

Vote to pass a bill that increases the maximum annual contribution parents can make to tax-free education accounts.

Highlights:

• Increases the Education Savings Account (ESA) limit from $500 to $2,000 annually per child.

• Includes elementary and secondary education expenses, as well as private school tuition, homeschooling expenses, academic tutoring, books and other supplies.

• Excludes employer-provided educational assistance from gross income calculations.

• Includes the "Transition to Teaching Act," which appropriates funds to institutes of higher education and non-profit organizations to recruit, train and support teachers.

• Raises income eligibility threshold from $160,000 to $220,000 for couples filing their taxes jointly who wish to invest in Education Savings Accounts.

Full Bill Text

Full Bill Text