Coverdell: Education Savings Accounts For K-to-12
July 17, 1997
Senator Paul Coverdell's (R-Ga.) education savings accounts proposal would benefit parents with children attending kindergarten through college:
- Parents could contribute up to $2,000 plus the $500-per-child tax credit into an education savings account where it would accrue tax-exempt interest.
- Moneys could be withdrawn to cover education expenses from kindergarten through college at public or private schools.
- Coverdell's proposal passed the Senate as an amendment to the Tax Fairness Bill by a wide margin, 59 to 41.
Education analysts note that President Clinton has pushed financial assistance for higher education, yet has done nothing to help elementary or secondary education.
Educator Charles Krauthammer criticized Mr. Clinton for ignoring the crisis at the elementary and high school levels where thousands of kids are getting such rotten education that "their entire life prospects are blighted."
Educators know that because every child has different educational needs, the one-size-fits-all approach to education can't work. The Coverdell amendment allows those closest to the child -- the parent -- to decide the best solutions for his education needs.
Gary L. Bauer (Family Research Council), "Help Through High School," Washington Times, July 17, 1997.
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