Political Quotes

Paul Coverdell: “I do not know where he is getting the data. Let me respond in this way. The means test is identical to the one both the…”

On the recordFebruary 29, 2000
I do not know where he is getting the data. Let me respond in this way. The means test is identical to the one both the President and the Congress used for the higher education IRA. There is no difference. We all celebrated that IRA account. You can save up to $500 a year for your college education. All this says is it should be larger, $2,000, and it should be available for K-12. But there is no difference in the means testing. The data I have seen over and over suggested over 70 percent of all these savings, or the use of the savings accounts, would go to families earning $75,000 or less. So if there is a pox on this means test, then there is the same one on an account which we have all been applauding for the last 2 or 3 years.
Said by
Paul Coverdell
Georgia
Source
govinfo.gov

Editor's note · Context

Discussing the means test for education savings accounts during a Senate debate.

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