Paul Coverdell: “I have several comments to make with regard to that. Before I outline the reach of the legislation, I will respond to…”

“I have several comments to make with regard to that. Before I outline the reach of the legislation, I will respond to several remarks made by the Senator from Massachusetts. First, the Senator from Massachusetts indicated that the President's budget had $4.5 billion in new funding for education and that we are debating something that is worth some $200 million over 5 years. My data does not match his. Actually, in 5 years this legislation would use tax policy to relieve taxpayers, whether they are parents or employers or people who are in a State tuition program. It would be $4.3 billion in the first 5 years and almost $8 billion over 10 years. They really are apples and oranges. What we are debating is the relief of tax policy on top of what will ultimately become an increase in the education budget. In fact, if you are going to do it that way, you have to add these figures to what the President and the Congress ultimately decide is going to be the increase in the education budget, remembering that last year the Congress' increase in education was greater than the President's.”