Senate Vote on Education Savings Accounts.
The Senate is expected to consider Sen. Paul Coverdell's (R-GA) Parents and Students Savings Accounts Plus (PASS A+) Act (S. 1133) the week of March 9. Coverdell's legislation would increase education opportunities for schoolchildren by allowing withdrawals from tax-free education savings accounts (ESAs) for K-12 public, private, or home school expenses. The Senate bill would allow $2,000 in annual contributions to a child's ESA. Last year, the House passed legislation that would allow contributions up to $2,500 annually into ESAs. The bill was stalled in the Senate after opponents led a filibuster against the legislation. Senators voted 56-44 in favor of Sen. Coverdell's A+ Education Savings Accounts bill, but lacked the necessary 60 votes to end the filibuster. However, several senators who opposed ESAs last year voted for the legislation in the Senate Finance Committee in early February. Opponents of ESAs are chiefly those within the education establishment who erroneously claim that ESAs will hurt public education. However, the Congressional Joint Tax Committee estimated that 75 percent of the funds would be used by public school students. Please call your senators and urge them to support Coverdell's Education Savings Accounts. The Capitol Switchboard number for the Senate is 202-224-3121. [Source: Family Research Council’s LEGISLATIVE HOTLINE, Friday, March 6, 1998]
Senate Gets Another Chance to Pass Education Savings Accounts.
The Senate is expected to consider Sen. Paul Coverdell's (R-GA) Parents and Students Savings Accounts Plus (PASS A+) Act (S. 1133) the week of March 2. Coverdell's legislation would increase education opportunities for schoolchildren by allowing withdrawals from tax-free education savings accounts (ESAs) for K-12 public, private, or home school expenses. The Senate bill would allow $2,000 in annual contributions to a child's ESA. Last year, the House passed legislation that would allow contributions up to $2,500 annually into ESAs. The bill was stalled in the Senate after opponents led a filibuster against the legislation. Senators voted 56-44 in favor of Sen. Coverdell's A+ Education Savings Accounts bill, but lacked the necessary 60 votes to end the filibuster. However, several senators who opposed ESAs last year voted for the legislation in committee in early February. Opponents of ESAs are chiefly those within the education establishment who erroneously claim that ESAs will hurt public education. However, the Congressional Joint Tax Committee estimated that 75 percent of the funds would be used by public school students. Please call your senators and urge them to support Coverdell's Education Savings Accounts. The Capitol Switchboard number for the Senate is 202-224-3121.
[Source: Family Research Council’s LEGISLATIVE HOTLINE, Friday, February 27, 1998]
Reducing the Education "Blob."
After a frustrating year of vying with the Clinton administration on education, Senate Republicans attempted to take an early lead on the issue by introducing a package of education bills. On Tuesday, Jan. 20, Senate leaders held a press conference to announce the Better Opportunities for Our Kids and Schools Act, or the B.O.O.K.S. Act. The bills will be introduced as soon as legislative business begins on Jan. 28. The bill will include Sen. Paul Coverdell's (R-GA) education savings accounts, which was passed in the House, but was filibustered in the Senate. This provision would allow any individual to contribute to a child's education savings account. Interest on the accounts would be tax-free, and withdrawals could be made for K-12 public, private, or home education expenses. The package also includes Sen. Slade Gorton's (R-WA) block grant proposal, which would direct 30 percent of the Department of Education's budget to states, in the form of block grants. This "redirection" of funds would eliminate billions of dollars worth of federally run programs by sending the money to states and communities for local decision-making. The provision would be subject to a "Dollars to the Classroom" requirement that 95 percent of the federal funds spent reach the classroom. The proposal also provides for an experimental education program using vouchers.
[Source: Family Research Council’s LEGISLATIVE HOTLINE, Friday, January 23, 1998]