Streamlining Government

President Bill Clinton, Vice President Al Gore and administration officials talked with reporters about the proposed Middle Class Bill of Rights. The president focused on the four key elements in the Bill of Rights: 1) making post-secondary education, training, and retraining deductible 2) allowing tax cuts of up to $500 a year for each child under the age of 13 for families making $75,000 or less yearly; 3) permitting families earning less than $100,000 yearly to place $2,000 tax-free into Individual Retirement Accounts and to withdraw that money tax-free for education or health care expenses, the first-time purchase of a home, or care of an elderly parent; and 4) to provide billions of dollars in government training funds directly to workers. The vice president and senior administration officials discussed in detail how the president’s proposed program will be funded through major cuts in government spending. close