Washington (Feb. 5, 2003) -- The Treasury Department said that the President's Budget would include two new expanded savings proposals covering all Americans.

The first creates two new consolidated savings accounts--Lifetime Savings Accounts (LSAs) and Retirement Savings Accounts (RSAs) that will allow everyone to contribute, with no limitations based on age or income status. Individuals will be able to convert existing accounts into these new accounts in order to consolidate and simplify their savings.

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