Paul Coverdell: “I appreciate that. I think we are getting close to a common line. My point was that the legislation we are debating has…”

“I appreciate that. I think we are getting close to a common line. My point was that the legislation we are debating has a value of $4.3 billion. It is apart from the President's proposed budget or what the Congress is going to do. This is in addition to whatever the Congress and the President decide, A. And, B, I don't think it is plausible to attack a $2,000-a-year savings account because of the $7 figure, with which I take some exception. If you want to use it, that means what we have done is only worth $2.25 under the President's proposal, which is only $500 per year. The Senator from Massachusetts alluded in his remarks to a partisan debate. This is not a partisan debate on the proposal from the Finance Committee. It was passed out with Republican and Democrat Members. The principal cosponsor of the legislation is Senator Robert Torricelli from New Jersey, the principal cosponsor and a member of the Democratic Party in good standing. In addition, there are some 8 to 10 other Democrats who are on that side of the aisle in the Senate and are very supportive of this legislation. I was pleased by the Senator's remarks when he said the President has become interested in K through 12 because I really believe that is where the crisis in American education is. I am glad we are now talking about the same target. The crisis is not in higher education; it is K through 12.”