[Congressional Record Volume 143, Number 46 (Thursday, April 17, 1997)]
[Extensions of Remarks]
[Page E698]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      INTRODUCTION OF LEGISLATION

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                          HON. SANDER M. LEVIN

                              of michigan

                    in the house of representatives

                        Thursday, April 17, 1997

  Mr. LEVIN. Mr. Speaker, over the past two decades, college tuition 
costs have skyrocketed by over 200 percent while median household 
income increased by just 82 percent.
  Increasing college tuition has caused many students to rely more and 
more on college loans and other forms of aid to finance their way 
through college. The average student loan has risen from $518 in 1980 
to $2,417 in 1995. In total, student loan debt has reached an all time 
high of $24 billion.
  Education is a high priority, and we have to find other ways to 
finance it besides sinking our children into debt. That's why I am 
introducing this bill that would allow families to exclude from income 
tax any educational assistance provided by their employers toward the 
education of their children.
  Several companies have already taken the lead in providing this kind 
of assistance. for example, General Motors [GM], Ford Motor Co., 
Chrysler Corp., and the United Auto Workers [UAW] have developed the 
Scholarship Program for Dependent Children. Under GM's program, the 
auto maker will provide up to $1,000 annually in tuition assistance for 
each dependent child of active, retired, or deceased GM workers who are 
pursuing post-secondary education or training.
  We need to encourage this kind of employer-employee partnership to 
meet the needs of working Americans without expanding the size of 
Government. This legislation would do just that.
  Mr. Speaker, I urge my colleagues to cosponsor this bill and support 
employer-employee cooperation in education.

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