S. 141 · 110th Congress
College Savings Act of 2007
- Stage
- In committee
- Sponsor
- Maria Cantwell
- Introduced
- 2007-01-04
- Latest action
- 2007-01-16 · Sponsor introductory remarks on measure.
Summary
College Savings Act of 2007 - Amends the Internal Revenue Code to: (1) increase the maximum annual contribution limit for Coverdell education savings accounts from $2,000 to $5,000 and make such increase permanent; and (2) allow a tax deduction up to $5,000 for contributions to an education savings account.