Political Quotes

“President Clinton long ago announced his intention to veto the Education Savings and School Excellence Act. For reasons I will describe in a moment, I oppose this bill and agree with the President's decision to veto it. However, apart from the merits of the legislation, I do want to thank Chairman Roth for insisting that the appropriate place for initial consideration of the Coverdell legislation was in the Finance Committee, not on the floor. This legislation was reported by the Committee on February 10, 1998, by a vote of 11-8. This is one of those infrequent occasions in which Chairman Roth and I disagree on a policy matter. The good intentions of the proponents of expanding the availability of education individual retirement accounts are clear. However, in my view the proposed changes to the education IRA provisions, passed just last July and effective on January 1 of this year, are fraught with serious policy and technical defects. Secretaries Rubin and Riley have expressed strong opposition to the education IRA provisions in this bill, and President Clinton agrees with their recommendation that he veto this conference agreement.”