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ERIC Number: ED443190
Record Type: Non-Journal
Publication Date: 1998-Apr-17
Pages: 13
Abstractor: N/A
Reference Count: N/A
A+ Accounts: More Educational Opportunity, Not More Bureaucracy [and] Executive Summary. The Heritage Foundation Backgrounder, Number 1172.
Shokraii, Nina H.; Youssef, Sarah E.
The "A+ Accounts" offer parents and concerned citizens a new way to invest in a child's education from kindergarten through 12th grade. Under this plan, families, single parents, or anyone earning less than $95,000 annually ($150,000 on joint tax returns) could deposit up to $2,000 per child in after-tax income into interest-bearing savings accounts each year. These tax-free funds could be used for any education-related expense, from books and transportation to special programs or private school tuition. The A+ Account program offers a tangible opportunity to parents to improve their children's K-12 education. In addition, the bill would allow parents to make tax-free withdrawals from state-operated tuition savings and prepaid tuition programs for their children's higher education expenses. The bill also contains two provisions on school building and repair: The first would free $3 billion in school construction bonds for public schools over the next five years. The second would expand from $10 million to $15 million the maximum value a school district could issue in tax-exempt bonds without having to comply with complicated IRS arbitrage rebate rules. The article goes on to list several Senate proposals which would strengthen A+ Accounts. (DFR)
Heritage Foundation, 214 Massachusetts Ave., N.E., Washington, DC 20002-4999. Tel: 202-546-4400.
Publication Type: Opinion Papers
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Heritage Foundation, Washington, DC.