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Congress approves changing name of Education IRAs

(July 23, 2001) - The House today approved a bill (S. 1190) that renames Education IRAs as Coverdell education savings accounts. The Senate had passed the bill on July 18, 2001, the first anniversary of the death of Senator Paul Coverdell R-GA. Coverdell was a primary supporter of these accounts. [Update July 26, 2001. President Bush today signed the bill making this change.]

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