[Congressional Record Volume 143, Number 131 (Friday, September 26, 1997)]
[Senate]
[Page S10055]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       EDUCATION SAVINGS ACCOUNTS

  Mr. BURNS. Mr. President, I rise to add my name to the list of 
cosponsors of S. 1133, the Parent and Student Savings Account PLUS Act, 
introduced by Senator Coverdell, and ask unanimous consent that my name 
be added. This bill will allow families to invest in education savings 
accounts, or A-Plus accounts, for their kids' K through 12 expenses.
  Mr. President, the Taxpayer Relief Act of 1997 provides several 
education-related tax provisions for students and their families. Yet 
these provisions are mainly aimed at making higher education more 
affordable. While I am all for student loan interest deductions and tax 
credits for 2- and 4-year degrees, K through 12 education is not cheap 
either, and families could greatly benefit by saving up through A-Plus 
accounts. But for a last minute veto threat of the entire balanced 
budget act, families would have the option of savings accounts for 
their kids' future.
  Why are education savings accounts a good idea? For the same reason 
tax credits for college expenses are a good idea: They help families 
afford a quality education for their kids. These A-Plus accounts can be 
used for public, private, and home schooling education expenses. 
Qualified expenses include tuition, fees, tutoring, special needs 
services, books, supplies, equipment, and transportation. This will 
mean a lot to hard-working families trying to make ends meet.
  Opponents like to equate education savings accounts with vouchers, 
and they consistently use the terms interchangeably as if they are one 
and the same. This is a red herring. Unlike vouchers, education savings 
accounts would not redirect State or local funds otherwise available 
for public education. To the contrary, I believe public school students 
will greatly benefit by saving money for general school expenses. And 
from what I'm hearing, families across the country agree with me. Let 
me reiterate: We are talking here about using one's own hard-earned 
money for education expenses, not diverting public funds that would 
otherwise be spent on public schools.
  Now, I do not support the use of vouchers in Montana because I 
believe they would disrupt public school financing and the costs to our 
public schools would outweigh the benefits to our students. But this is 
a separate issue, and one better left to the Montana Legislature.
  Opponents have also claimed that education savings accounts would 
violate the establishment clause of the Constitution because Federal 
dollars would indirectly benefit religious schools. I'll simply respond 
by saying that under that reasoning, any federal financial aid to 
students attending Marquette, Georgetown, or Brigham Young would also 
violate the Constitution. We all know that is not the case.
  Although we were blocked from including education savings accounts in 
the Taxpayer Relief Act, thanks to the efforts of Senator Coverdell we 
will have another chance to send this bill to the President. At that 
time we will have the chance to show our support for America's families 
by making education more affordable.

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