Paul Coverdell: “Those who have objected to the proposal have essentially made two…”

On the recordMarch 13, 1998

Those who have objected to the proposal have essentially made two cases: One, that this would benefit upper-income individuals. While the Senator is here, I want to point out--I know he will agree--that the criteria for the education savings account are identical to the education savings account for higher education that we passed and that the President has signed--same means testing, the same concept of directing, as the Senator alluded to, 70 to 75 percent of the funds to those making $75,000 or less. But the key point is we have already passed a savings account. It is just that it is only for $500 and only for college. We have taken the same account and expanded it to $2,000 and kindergarten through high school or disabled student after-college. I am perplexed that, having passed this and signed it and celebrated it, we are still hearing arguments that this would somehow enrich the rich.

Said by

Paul Coverdell

Georgia

Source

govinfo.gov

Editor's note · Context

Discussing the benefits of education savings accounts during a Senate debate.

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Paul Coverdell: “Those who have objected to the proposal have essentially made two cases: One, that this would benefit upper-income…”

Editor's note · Context