CONGRESS FOR VOTERS

Richard Blumenthal (D-CT)

GRACE for Military Survivors Act

S. 5445 · Senate bill Taxation

A Democratic bill with 1 Republican cosponsor · See the cosponsor

Last activity — Read twice and referred to the Committee on Finance.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill is known as the GRACE for Military Survivors Act. It amends the Internal Revenue Code of 1986. The main goal is to extend the time period for contributing military death benefits to Roth IRAs and Coverdell education savings accounts. Specifically, it changes the allowed timeframe from a 1-year period to a 3-year period. This change also applies retroactively to certain amounts received on or after October 7, 2001.

Yes· 3 of 4

  • Scored +8

    Would veterans be better off under this, taking everything together?

    The GRACE for Military Survivors Act provides military families additional time to contribute death benefits into tax-advantaged accounts.

  • Scored +7

    Does this increase the pay, pensions or support veterans receive?

    The bill extends the time period for contributing military death benefits to Roth IRAs and Coverdell education savings accounts from 1 year to 3 years.

  • Scored +5

    Does this make college cost less?

    Extending the contribution period for military death benefits to Coverdell education savings accounts helps families save for educational expenses.

The opposite

No question was scored the opposite.