Posted on September 9, 1997 In Press Releases

Today, the Institute for Public Affairs of the Union of Orthodox Jewish Congregations of America applauded Senator Robert Torricelli’s (D-NJ) support and promotion of Senator Paul Coverdell’s (R-GA) A+ Account legislation at a Capitol Hill press conference this morning. Senator Coverdell’s proposal would create a new category of savings accounts in which the interest earned on money invested would be tax-free. A parent would be permitted to invest as much as $2000 per child, per year in these accounts. Money could be withdrawn for use towards a wide range of education expenses such as tuition, tutoring,transportation or school supplies associated with elementary, secondary or college education at public, private or parochial schools. Nathan Diament, director of the Institute for Public Affairs, stated that “the A+ Account proposal is a sensible attempt to provide parents with greater resources to ensure their kids receive the best education possible. In joining this effort,” Diament continued, “Senator Torricelli has demonstrated his commitment to improving education opportunities for our children and his wisdom in recognizing that a sensible initiative targeted at improving education by giving parents more resources and control over their children’s education is neither a Republican nor Democratic issue it is an American issue.”