WASHINGTON, Oct. 20 /PRNewswire-USNewswire/ -- When Members return to Washington next month to complete the work of the 111th Congress, Congressman Chaka Fattah (D-PA) will introduce legislation making permanent the American Opportunity Tax Credit (AOTC). Under Fattah's legislation students would receive tax credits totaling up to $10,000 over the course of their four year education.
Fattah is the architect of the AOTC legislation, originally part of the American Recovery and Reinvestment Act of 2009 which covers tax years 2009 and 2010. The AOTC expanded and strengthened what was formerly known as the Hope Scholarship tax credit by increasing the amount from $1,800 to $2,500.
"Since the implementation of the American Opportunity Tax Credit Act, great strides have been made in improving the academic outcomes for all students," Fattah said. "I'm happy to make sure that those strides continue and the investment in our students continues."
The AOTC, which covers tuition, fees, textbooks and other costs has already assisted some 335,000 Pennsylvania families with college expenses. Those families have seen a reduction in their taxes by an average of more than $2,000 according to a recent report from the Treasury Department. Nationwide, 12.5 million students and their families have received a tax credit for their higher education expenses.
"Making the AOTC permanent will be my number one priority when Congress resumes its work on November 15th," Fattah said.
SOURCE Office of Congressman Chaka Fattah