1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS20289Updated August 23, 2001Education Savings Accounts for Elementary and Secondary EducationBob Lyke and James B. StedmanSpecialists in Social LegislationDomestic Social Policy Divi
2、sionSummaryThe Taxpayer Relief Act of 1997 (P.L. 105-34) authorized new education savingsaccounts (then called education IRAs) for higher education expenses. From the time ofenactment, attempts were made to increase the $500 annual contribution limit and allowaccounts to be used for elementary and s
3、econdary education, including private andreligious schools. Legislation to accomplish these objectives passed in both the 105th and106th Congresses but was vetoed by President Clinton.The Economic Growth and Tax Relief Reconciliation Act of 2001 (P.L. 107-16)that President Bush signed on June 7, 200
4、1, includes these changes, effective after 2001.The most prominent issue they raise is whether the federal government should assistfamilies whose children are educated in private schools. Policy questions include whateffect such assistance might have on public schools and student performance and whe
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