"The world marketplace means a fast-changing economy. It is critical that we help prepare young people to compete for good jobs. Making higher education more affordable must be a top priority," Grassley said. "What's more, we must turn around the growing trend of illegal drug use by teenagers. Young people must clearly understand that using drugs shuts the door to a brighter future."
The first Grassley initiative would establish a permanent $2,500 income tax deduction for the interest on student loans. The proposed deduction would apply even for those who do not itemize tax returns. As a senior member of the Senate Finance Committee, Grassley said he intends to push for swift consideration of the measure and send a message that education is a top priority.
The second Grassley initiative is designed to ensure that all federal efforts to prevent drug use by young people, to educate about the dangers of illicit drugs and to treat drug addicts meet the highest standards. Grassley said the bi-partisan bill he developed with Sen. Pat Moynihan of New York would set specific qualifications for the individual selected to serve as Deputy Director for Demand Reduction in the Office of National Drug Control Policy.
"To ensure that this position is reserved for the most qualified and committed individual, we must establish criteria and define it in statute as we have for other important government posts including Surgeon General, members of the Defense Nuclear Facilities Safety Board and the Solicitor General," Grassley said.
Grassley said that because they were introduced on the first legislative day of the 105th Congress, these two bills will be high priority items. He expressed optimism about their passage. The Finance Committee holds jurisdiction over all tax-writing policy. Grassley also serves as chairman of the Senate Caucus on International Narcotics Control.