House Votes to Simplify Education Tax Breaks for Students
On Thursday, the U.S. House of Representatives passed a bill that would make permanent a tax credit that provides students with up to $2,500 a year to help pay for tuition and related higher education expenses. The current tax credit is due to expire at the end of 2017. The blanketing credit is designed to simplify overlapping deductions and credits.
According to the article, President Obama and his administration is split between making the tax credit permanent as it would at $97 billion to the national budget over the next decade.
The bill only allows students to claim the credit in their first four years of college, so graduate students would not be eligible. The proposed credit is only available for individuals making less than $90,000 a year, and couples making less than $180,000 a year.
For more information, see Education Week.
Yvonne is a writer for Edtech Times who is most interested in technology's role in culture. When she is not combing the web for the latest in educational technology, she is reading classic literature or watching the game on TV. You may know her from Gradeable, Boston.com, Emerson College, Busa Wine & Spirits, UMass Dartmouth, or Burlington High School.