William Roth

Mr. ROTH

Mr. ROTH. I say to the distinguished Senator we do have a sequence of amendments and we intend to go down the sequence of amendments from Democrat to Republican.

Mr. ROTH

Mr. ROTH. Mr. President, I move to reconsider the vote.

Mr. ROTH. I yield to the Senator from Pennsylvania.

Mr. ROTH. Mr. President, Senator Jeffords is next on the list to offer an amendment.

Mr. ROTH. Mr. President, while I am sympathetic to my colleague's effort to provide quality child care, I regret I must oppose his amendment. This bill already contains meaningful child care tax relief for families. This proposal would give that tax relief to employers. For this reason I must oppose this amendment. I point out the amendment is not germane and, with all time yielded back, I make a point of order of germaneness. I therefore raise a point of order against the amendment under section 305(b)(2) of the Budget Act.

Mr. ROTH. It is my understanding the next one on the list is an amendment by Senator Kohl.

Mr. ROTH. Mr. President, I think the next one is Mr. Kohl.

Mr. ROTH. Mr. President, I move to reconsider the vote.

Mr. ROTH. I ask for the yeas and nays.

Mr. ROTH. Mr. President, we need to do something about our savings rates. Americans are saving less now than they did than at almost any time since World War II. The universal IRA Plus is our best bet to bolster our fledgling savings rate. In fact, expanding IRA's is the only prosaving provision in the budget. The universal IRA Plus account compliments the tax deductible IRA because it offers a long-term predictable savings program for millions of families with fluctuating incomes, and who do not have employer retirement plans. Senator Bingaman's chart is misleading because the taxpayer must be at least 59\1/2\ years old before withdrawals are tax free. It is particularly important for the self-employed like farmers and young families who hopefully will be successful and grow out of the tax- deductible IRA into the IRA Plus. With all these advantages, the backloaded IRA must be included in the budget bill. Fifty-one Senators have cosponsored my super-IRA legislation and agree with me.

Mr. ROTH. Mr. President, I move to reconsider the vote by which the amendment was agreed to.

Mr. ROTH. Senator Coverdell is next in the line of amendments.

Mr. ROTH. Mr. President, I move to reconsider the vote.

Mr. ROTH. I move to reconsider the vote.

Mr. ROTH. The amendment deals with the subject of D.C. schools.

Mr. ROTH. Mr. President, I ask that the Senate resume consideration of Jeffords amendment No. 522. On behalf of the Senator from Vermont, I send a modification to the desk which we are prepared to accept.

Mr. ROTH. I move to reconsider the vote.

Mr. ROTH. Mr. President, I move to reconsider the vote by which the motion was rejected.

Mr. ROTH. Mr. President, I move to reconsider the vote by which the motion was rejected.

Mr. ROTH. I move to reconsider the vote.

Mr. ROTH. I move to reconsider the vote.

Mr. ROTH. The next amendment is Senator Gramm's.

Mr. ROTH. I move to lay that motion on the table. The motion to lay on the table was agreed to.

Mr. ROTH. Mr. President, I move to reconsider the vote.

Mr. ROTH. Yeas and nays.