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Friday, November 21, 2008Higher Ed tuition credit?
How about we give college students some extra credit (tax credit, that is...). Might help.
Listen in on the discussion from Wednesday's Rev & Tax meeting.
posted by The Senate Site at 12:03 PM | Link
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4 Comments:
Yes, please! I'm dying over here with the taxes and tuition.
Unless it's refundable I'm not sure it'll do any good, except to make people feel warm and fuzzy. As a college student (both undergrad and now) I've pretty consistently had zero tax liability.
In other words, I only see upper income households benefiting from a non-refundable credit. I really respect Rep. Dougall (who I understand is behind this movement), but I'm not yet convinced this is the right solution.
More state education subsidies for those with large families?
As I read the proposal, current students can carry the credit forward to apply against taxes in future years. So (as Tom points out) the incentive effect isn't so much to help current students today. The real incentive is to keep those students here in the future because the credit offsets future taxes when they actually earn income. At least that's the theory.
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