We’ve lamented the lack of progress this Congress has made in terms of domestic policy. It’s nice that as one of its last acts, Congress passed a bill that advances the ball on some key issues. The Tax Relief And Health Care Act Of 2006, which the President signed into law today, extended some helpful tax measures and advanced free trade with Vietnam.
Perhaps most importantly, this law expanded health savings accounts. Health Savings Accounts allow individuals to save tax free for healthcare expenses. The accounts must be combined with a high deductable insurance plan. These accounts put individuals in control of their healthcare spending and encourage them to be good stewards of that money. This is particularly good news for women, as IWF detailed in this report.