New Legislation was recently introduced in Annapolis that would enable first-time home buyers to set up tax deductible savings accounts.  These accounts would be similar to a Health Savings Account (HSA) and would allow persons to deposit money into the account with tax deductible status.  The funds in the savings account would need to be used to purchase a home and could be used to offset down payment requirements or closing cost.  What do you think?  Is this a good idea?

Watch the video here…

https://www.youtube.com/watch?v=8Whidaz5XQQ&feature=youtu.be