Political Quotes

“I rise today, though, in opposition to the Education Savings Account provisions of this particular legislation. I think it is both bad tax policy and bad education policy. In fact, I think one of the great dividing lines between those who support this legislation and those who oppose it is whether or not our primary responsibility is to enhance, support, indeed, to reform public education or to somehow, in general, provide disbursed resources to parents. Our primary goal should be to enhance and reform and provide better public education. This legislative proposal, as well-intended and well-meaning as it is, does not do that. As I said, it represents both bad tax policy and bad education policy. In terms of the bad tax policy, it is a preferential distribution to wealthy Americans. If you look at the analysis by the Treasury Department, it shows that this legislation would disproportionately benefit the wealthy and provide little or no benefit to low- and middle-income families. Indeed, 70 percent of the tax benefits under this bill would go to families in the top 20 percent of the income bracket.”