Bill would create long-term-care accounts
A bill to create long-term-care trust accounts was introduced last month.
A bill to create long-term-care trust accounts was introduced last month. S 504, co-sponsored by Sen. Gordon Smith, R-Ore., and Blanche Lincoln, D-Ark., would allow individuals to contribute up to $5,000 a year to the account and would provide a 10% tax credit on the amount contributed. Interest accrued would be tax free. Similar bills in the last Congress died in committee. For more details of the bill, visit http://thomas.loc.gov
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