See How Your Politicians Voted
Title: Education Savings Accounts bill
Vote Smart's Synopsis:
Vote to pass a bill that increases the maximum annual contribution parents can make to tax-free education accounts.
- 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, home schooling expenses, transportation, academic tutoring, books and other supplies.
- Exempts "special needs" beneficiaries from the beneficiary age limitation of 18.
- Allows corporations to make contributions to ESAs.
- Excludes employer-provided educational assistance from gross income calculations.
- Grants rewards to states that have a system of regular testing and merit pay for all elementary and secondary school teachers.
- Expresses the sense of Congress that 95 percent of all education funding for elementary and secondary schools should be spent on children in the classrooms.
- Authorizes the Secretary of Education to award competitive grants to state-established reading and literacy partnerships and to statewide family literacy initiatives.
- Expresses the sense of Congress that it should be a national priority to lower the school dropout rate and increase school completion for middle school and secondary school students.