[Congressional Record (Bound Edition), Volume 146 (2000), Part 1]
[Senate]
[Page 1422]
[From the U.S. Government Publishing Office, www.gpo.gov]



                       EDUCATION SAVINGS ACCOUNTS

  Mr. LOTT. I inform our colleagues that the managers on this 
legislation, the chairman of the Finance Committee and the ranking 
member, Senator Moynihan, will be available at 2 o'clock and we will 
begin the process to consider the education savings account bill. I 
certainly support this legislation. It has broad support across the 
country. We did pass it a couple of years ago. It was vetoed by the 
President. But it is a bill whose time has come.
  People should be able to save for the education of their children, 
for their needs in education--whether kindergarten, 4th grade, 10th 
grade, or 12th grade. We need to allow parents who can and want to, to 
save for their needs, whether it is a computer for their child, whether 
tutoring, remedial assistance in reading, or whatever it may be. It is 
unconscionable that we can do that for a child's higher education but 
not for their education needs in the fourth grade.
  Some say it will benefit middle-income people and upper-income people 
who can afford to save for their children's needs. That is fine. The 
important thing is to help our children, all of our children, at the 
lowest economic level, but also to encourage savings across the board 
for education in general.
  I am glad we will have this full debate. I commend Senator Coverdell 
for his pertinacious support for this legislation. He is dogged. He 
will not quit. I predict this bill will become law.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The assistant bill clerk proceeded to call the roll.
  Mr. TORRICELLI. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER (Mr. Burns). Without objection, it is so 
ordered.

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