clock menu more-arrow no yes

Filed under:

Gore touts new federal bond aimed at class-size reduction

States will receive funds for school building and modernization financed through a new type of federal bond, Vice President Al Gore said Saturday.

"There is nothing more important for America's future prosperity and strength than giving our children a world-class education," Gore said. "An essential aspect of that is providing safer, smaller, smarter, cutting-edge classrooms and schools - places where teachers can concentrate on teaching, and students can concentrate on learning."In his budget request for the fiscal year starting Oct. 1, President Clinton proposed federal tax credits to pay interest on almost $22 billion in bonds to build and renovate public schools. The proposal provides tax credits instead of interest payments for investors in school modernization bonds and qualified zone academy bonds.