Political Quotes

Paul Coverdell: “It is actually about $2.4 billion over 10 years. We say: OK, we are going to leave that in the checking accounts of the…”

On the recordFebruary 23, 2000
It is actually about $2.4 billion over 10 years. We say: OK, we are going to leave that in the checking accounts of the families who will open a savings account in support of their children's education, and we will not tax the interest. That is all this proposal does. As I said earlier, it is amazing to me what little incentive it takes to cause Americans to do great big things. When we do that, the parents of 20 million children are going to open up 14 million accounts, and they are going to save $12 billion, and I think it will be much more. So all of us who are interested in education will have had a role in infusing into every form of education--public, private, home; whatever--billions of new dollars that go right to a child's most specific need.
Said by
Paul Coverdell
Georgia
Source
govinfo.gov

Editor's note · Context

Discussing a proposal related to education savings accounts and tax incentives.

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