H.R. 518 would amend the Internal Revenue Code of 1986 to consolidate the current education tax incentives as one credit against income tax for qualified tuition and related expenses.
Detailed Summary
Middle Class College Tuition Tax Credit Expansion Act of 2009 - Amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a tax credit for 50% of qualified tuition and related expenses (including required books), up to $10,000, for attendance at an institution of higher education.
Status of the Legislation
Latest Major Action: 1/14/2009: Referred to House committee. Status: Referred to the House Committee on Ways and Means.
Points in Favor
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Points Against
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