DAILY CATHOLIC     WEDNESDAY     June 10, 1998     vol. 9, no. 112

from a CATHOLIC perspective

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          WASHINGTON, DC (CWNews.com) - A congressional conference committee is almost finished with legislation that would create tax-free education savings accounts giving parents the choice to send their children to private schools, sources said on Monday.

          The bill sponsored by Sen. Paul Coverdell, R-Georgia, and Sen. Robert Toricelli, D-New Jersey, would allow tax-free savings accounts to be created for children, starting at birth. Up to $2,000 a year could be contributed, with money coming from relatives, employers, foundations, or other sources. The accounts would permit tax-free withdrawals and the money could be used for a range of expenses from kindergarten through college, including tuition at private or religious schools.

          President Clinton has threatened to veto the bill, saying it would only benefit the wealthy while siphoning money away from public schools. Supporters of the bill said it is intended to give greater choice to all parents, and give them the same opportunities as more privileged people, like Clinton himself, who send their children to private schools. Clinton's daughter, Chelsea, attended the elite Sidwell Friends School after he father became president in 1992 until last year when she graduated.

Articles provided through Catholic World News Service.
CWN is not affiliated with the Daily CATHOLIC but provides this service via e-mail to the Daily CATHOLIC Monday through Friday.

June 10, 1998       volume 9, no. 112


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