Paul Coverdell: “No one can certify that this is going to affect property taxes whatsoever. In fact, the doubling of IDEA, if you can…”

“No one can certify that this is going to affect property taxes whatsoever. In fact, the doubling of IDEA, if you can find a jurisdiction that took this and lowered the property tax--I think you should listen--isn't what happened. I don't mean that we ought not to be fulfilling this obligation, but I have seen no example of the property tax being affected one way or the other as we fulfill this obligation. I think what happens is, as we fulfill the Federal obligation, which is rather remarkable--here we are 25 years later and still haven't done it--it theoretically frees up local school districts to do other things that are important in education. I find it interesting. The other point I was going to make to the Senator from California and to the Senator from Connecticut is they essentially inferred--and I can understand why--that the education savings account is different in a sense from the higher education and K through 12 because I think in the debate we have focused on K through 12. But there are extensive families benefitting from that. They ought to have the opportunity--the ``choice''--to use those funds if they so desire. But these accounts are a college account, too. We have taken the President's proposal and the congressional proposal and made it four times more powerful. It can be used for college. It can be used for the disabled and for dependent students following college.”