This is a savings plan, like a Roth IRA for education. That was a key problem in getting support for this bill. The White House Press Office did not return two telephone calls seeking comment. Meanwhile Gary Bauer, president of the Family Research Council, strongly condemned the Clinton veto.
Education is far too important to put in the hands of federal bureaucrats.
The education savings account would allow parents greater freedom to meet their own children's educational needs. The bill was similar to a current program that lets people save money in a tax-free account to help pay for college expenses.