Copyright 2000 St. Louis Post-Dispatch, Inc.
St.
Louis Post-Dispatch
June 16, 2000, Friday, FIVE STAR LIFT EDITION
SECTION: NEWS, Pg. A6
LENGTH: 394 words
HEADLINE:
GORE VOWS $ 500 BILLION IN TAX CREDITS TO HELP WITH TUITION,
HEALTH INSURANCE;
AND RETIREMENT;
PACKAGE IS PART OF
PLAN TO CUT TAXES OVER 10 YEARS
BYLINE: The Associated
Press
DATELINE: CINCINNATI
BODY:
Democratic presidential contender Al
Gore on Thursday promised $ 500 billion in tax relief over 10 years to help
middle-class Americans pay for tuition, buy health insurance
and save for retirement.
The package ups the ante in the tax-cutting
debate between Gore and Republican presidential nominee George W. Bush.
Gore outlined most of his tax relief plans during the Democratic primary
season, estimating their cost at no more than $ 250 billion over 10 years. As
projected government surpluses grew, so did Gore's plan. His package is still
dwarfed by what Bush has in mind. The Texas governor wants to cut taxes by $ 1.3
trillion over 10 years, but Gore says the country can't afford it.
One
of the priciest items in Gore's package is a plan to form tax-free voluntary
retirement accounts that would supplement Social Security. He did not provide
the cost or details, saving the unveiling for later in his campaign tour.
The package, a mixture of old and new Gore proposals, includes plans to:
* Expand tax credits for day care.
* Allow parents who
stay at home with infants to use the child care tax credit by claiming assumed
child care expenses of $ 500.
* Provide tax credits for
after-school care.
* Give a $ 3,000 tax credit for long-term
care.
* Expand the earned income tax credit for poor Americans.
* Give married couples the same standard deduction as if they were
single.
* Offer small businesses 25 percent tax credits on health care
premium costs. The businesses must join purchasing coalitions, which Gore
believes would give companies more power to negotiate lower insurance rates.
* Provide refundable tax credits for people lacking access to empl
oyer-based health insurance.
* Create tax credits for school
construction.
* Provide families with tax deductions or a 28 percent
credit on up to $ 10,000 of tuition and fees for any post-secondary education,
including college, training and graduate school. The proposal would provide up
to $ 2,800 annually in tax relief for each eligible family.
* Make
tax-free savings accounts for college more accessible and flexible.
*
Give tax credits for small companies that contribute to employee pensions.
* Use tax credits as incentive to create parks, conserve lands and
reward the use of energy-efficient cars, appliances and homes.
LOAD-DATE: June 16, 2000 
