Rod Grams: “as you know, the Senate has before it and is debating a very important bill to promote educational alternatives. It is a…”

“as you know, the Senate has before it and is debating a very important bill to promote educational alternatives. It is a bill which advances educational options, one which would encourage families to be actively involved in their children's education. It comes at a critical time. Test results released last month show that American high school seniors score far below their peers from other countries in math and science. Education Secretary Riley called the scores ``unacceptable,'' and indicated that schools are failing to establish appropriate academic standards. S. 1133 is the Senate's version of the education-IRA which has already passed in the House. The bill, commonly referred to as the A+ savings accounts, would expand the college education savings accounts established in the Taxpayer Relief Act of 1997 to include primary and secondary students. A+ accounts would also increase the maximum allowable annual contribution from $500 to $2,000 per child. The money could be used without tax penalty to pay for a variety of education-related expenses for students in K-12, as well as college expenses. The Senate bill closely resembles what is currently happening at the state level in Minnesota.”