That means helping students and parents save for college. Archer pointed out that soaring tuition prices at public and private colleges necessitate the proposed tax breaks.
Current law allows only public universities to offer prepaid tuition plans to prospective students.
The Republican plan, though, would not only allow private universities to set up prepaid tuition plans to prospective students but also make earnings tax exempt. Archer said he also intends to include an initiative to boost lagging public school construction by easing tax curbs on the issuance of bonds by states and localities. Democrats and the White House oppose the package on the grounds that it caters to the rich and to corporate interests at the expense of the poor. President Bill Clinton is all but certain to veto the bill unless Republicans scale it back dramatically. The White House has already invited congressional leaders to meet with Clinton next week to discuss their legislative priorities.