Copyright 1999 The Buffalo News
The Buffalo News
February 26, 1999, Friday, CITY EDITION
SECTION: NEWS, Pg. 12A
LENGTH: 329 words
COLLEGE AID TOPS SCHUMER LEGISLATIVE PACKAGE
DOUGLAS TURNER; News Washington Bureau Chief
Sen. Charles E. Schumer,
D-N.Y., has introduced a package of bills dealing with education, pension
portability, credit cards and women's health.
The largest item in the
package, which would cost $ 36 billion over five years, is $ 30 billion worth of
tax deductions for major college costs, Schumer said Thursday at a briefing.
Schumer said the legislation can be readily paid out of the annual
budget surpluses. His main education bill, which is co-sponsored by Sen. Daniel
Patrick Moynihan, D-N.Y., would allow single filers making up to $ 100,000 a
year and joint filers up to $ 140,000 to take tax deductions for the full cost
of college tuition, room and board.
All two-year and four-year colleges
would be eligible except those that raise year-to-year tuition more than the
level of inflation, Schumer said, noting that tuition prices have risen faster
than any other costs in the economy, including health care.
Schumer bill, which is sure to be resisted by corporate America, would require
all companies that now offer their employees a traditional pension to allow them
also to take part in portable plans such as a 401k. Schumer's bill also would
require companies to let employees cash out when they leave and roll their lump
sum into a 401k without penalty.
Schumer's "Better Schools Through
Better Teachers" bill would grant $ 5,000 worth of student loan forgiveness if
graduates teach school for five years. Teachers in private and public schools
would be eligible.
A proposed Equity in Women's Health Act would bar
health insurance companies from discriminating against
enrollees or providers based on race, gender or sexual orientation.
example, he said, if a health plan offered prescription drugs, "They would have
to cover drugs that only women use as well -- such as oral
Schumer said he also is working on
legislation to enhance airline fare competitiveness and electric power rate
LOAD-DATE: February 28, 1999