Political Quotes

“I congratulate Chairman Roth for his statement and for once again bringing a Finance Committee bill to the floor that includes ideas supported by members on both sides. And I thank the Chairman for insisting that the appropriate place for initial consideration of the Coverdell education savings account 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 the Chairman 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 our view the proposed changes to the education IRA provisions, passed just last July and effective on January 1st 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 have indicated that they will recommend that the President veto a bill that contains such provisions.”