Paul Coverdell

First of all, the means test--and it is means tested as to who can participate in this, and I probably wouldn't have done it that way, but that is the politics of the day--is identical to the college account we have set, which means 70…

I first want to make clear, this is a bipartisan legislative effort. The chief cosponsor of this legislation is Senator Torricelli of New Jersey. When this legislation was before the Senate last, it received 59 favorable votes, Republican…

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…

I have seen that. But my point is, if that is the case, it is worth four times the President's proposal.

I appreciate that. I think we are getting close to a common line. My point was that the legislation we are debating has a value of $4.3 billion. It is apart from the President's proposed budget or what the Congress is going to do. This is…

I say to him, this $7 routine is exceedingly misleading. Two or three of his colleagues have used that. If $7 is all we are talking about, then, A, why get worked up about it? And, B, if $7 per year is the only advantage out of this…

I can accept it on those terms, but I don't believe the fact we have not taxed that account to be an appropriation of the U.S. Treasury in support of a private or parochial school. We have just not collected the tax; there has been no…

This is, of course, a piece of legislation from the Finance Committee. It has been vetted three times before the Senate. It has been passed by the Senate with 59 votes. It is cosponsored by Robert Torricelli of New Jersey and about 10…

I am convinced we have a pretty strong disagreement. The Senator has made that point. But being a persistent individual, let's go back to the point the Senator made about the savings account, which is only one part of this bill. Then he…

Here is my idea: We should create new 401(k) accounts like the 401(k) plans that help you save for retirement, but these accounts will allow employers and employees to contribute up to $2,500 for each working person to pay for college or…

It is also a fine line that does not in any way suggest we are making an appropriation. I accept the fact that you might argue, as Senator Wellstone did earlier, that it is money that wasn't sent to Washington and you prefer it be sent…

No, I didn't. I said that 70 percent of the families are in public schools. Then I said the distribution would be 50-50. The reason for that is parents who have children in the private schools are paying higher costs. They are paying, of…

The Senator makes my point. There is so little invested on our part to cause them to do so much. I am stunned that people would be concerned. For this type of investment, why would we not want to produce the $12 billion in new resources…

Mr. President, this debate will continue tomorrow. I want to reiterate that the tax savings account helps 14 million families and 20 million children. It provides for employer incentives to educate their employees. One million employees…

I point out two things. The scope of the families who are eligible for the account is identical to the President's criteria for who is eligible for the account. That is one quarter the size we have already passed. If there is no…

I will only take a minute to respond to the good Senator from New York. The point is, the legislation had come out of the Finance Committee. No one is suggesting this is the only education debate. This bill is ready. This bill has been…

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…

the Judicial Conference recommends that Congress authorize 24 new bankruptcy judgeship positions in districts where bankruptcy filings and judicial caseloads are particularly burdensome. S. 625 authorizes 18 of these judgeships; these same…

ever since the introduction of this resolution which basically put the Senate on record, if passed, we were deploring the action of the President commuting the sentences of 16 known terrorists, in this timeframe, the White House so far has…

I want to read the resolution to open this discussion. It is a joint resolution deploring the actions of President Clinton regarding granting clemency to FALN terrorists: Whereas the Armed Forces of National Liberation (the FALN) is a…

at the end of July, beginning of August, the Congress, in an almost unprecedented fashion and with speed, passed a very significant tax relief bill in Washington. It has been the subject of much discussion and debate. We could not find…

let me ask the Chairman. As I understand it, the tax rules regarding the taxation of life insurance companies have changed substantially over the past years. As a vestige of these old tax rules, however, there are certain limitations on…

Seventy-five percent of stockholders today have household incomes less than $75,000. The Coverdell-Torricelli amendment targets middle-class investors by exempting their first $1,000 capital gains from taxation, beginning in fiscal year…

For the past 10 years, as a black psychiatrist specializing in addiction, I have warned about the dangers of needle-exchange policies, which hurt not only individual addicts but also poor and minority communities. There is no evidence that…

I would like to clarify with the chairman the intent of this bill regarding the Federal Law Enforcement Training Center and its facilities in Glynco, GA. Is it the Chairman's belief that the appropriations bill now before this body, S…