H.R. 2901 would amend the Internal Revenue Code of 1986 to establish a program demonstrating multiple approaches to Lifelong Learning Accounts, which are portable, worker-owned savings accounts that can be used by workers to help finance education, training, and apprenticeships and which are intended to supplement both public and employer-provided education and training resources.

== Detailed Summary ==

<summary>
(Log in to editLifelong Learning Accounts Act of 2007 - Amends the wikiInternal Revenue Code to: (1) establish tax-exempt lifelong learning accounts to pay for certain higher education expenses and beallow a tax deduction for cash contributions to such accounts; and (2) allow employers, employees, and self-employed individuals tax credits for contributions to such accounts.

Requires the firstComptroller General to provide a detailed summarystudy the effectiveness of such accounts and the bill!)tax credits provided by this Act.
</summary>

<!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. -->

== Status of the Legislation ==

<status>
Latest Major Action: 6/28/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.
</status>

<!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. -->

== Points in Favor ==

(Log in to edit the wiki and be the first to show why the bill should pass!)
<!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! -->

== Points Against ==

(Log in to edit the wiki and be the first to show why the bill should not pass!)
<!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! -->