On the recordApril 5, 1995
earlier today I heard a supporter of this unfair tax bill say that, no, they were not really cutting school loan programs. Why he said with a straight face, a straight face, that a person could take their $500 tax break that is being given, put it in a savings account that is going to be created with this bill. They say, ``Take that $500 and have $14,000--$14,000 are waiting.'' I could not understand it. Well, it was $14,000, 18 years after they put that money in the bank. Well, I told that to a high school senior from my State today, and he just laughed at me. He said, ``You know, it's going to cost $8,000 next year just to go to the University of Kentucky for 1 year.'' He said, Mr. Chairman, it is going to cost over $8,000 to attend the University of Kentucky for 1 year, so in 18 years $14,000 is not going to do a thing for them. Mr. Chairman, that is why this bill is wrong. I urge its defeat.
Said by
Chris Ward
Labour Party
Source
govinfo.gov
