Dianne Feinstein: “Mr. President, when this bill was last before this body, I voted against it. I voted against it because it had some…”

“Mr. President, when this bill was last before this body, I voted against it. I voted against it because it had some amendments to which I could not agree. Those amendments have been removed by the conference committee. I am very pleased to announce my support for this bill. To some, this bill will not be politically correct. For me, it is time to try new initiatives in education and to be guided in the future not necessarily by what is politically correct, but by what works in the homes, in the families and in the schools all across this great country. If this bill encourages savings for education, our country will be better for it. If it encourages parents, grandparents, aunts and uncles to help their families' children become educated, this will be a major achievement. I believe this bill will help. I am happy to support it. I, too, urge the President of the United States reconsider and to not veto it. I have heard this bill called many things, but let's analyze for a moment what this bill does do. It increases the limit of contributions from $500 to $2,000 for an education savings account which is currently available for postsecondary education. Thus, families will be able to quadruple the annual contributions they can now make into education savings accounts. It allows families to spend the money from these accounts on elementary and secondary education, both public and private.”