Economy | Change.gov: The Obama-Biden Transition Team

Economy | Change.gov: The Obama-Biden Transition Team: "n addition, because lower-income seniors may have no choice but to take withdrawals this year and in 2008, Obama and Biden will exempt any withdrawals made up to the required minimum amount from taxation. This will give seniors the flexibility they deserve -- to forgo withdrawals if they choose or to take those withdrawals tax free if they need those resources to pay their bills."