[Congressional Record (Bound Edition), Volume 155 (2009), Part 1]
[House]
[Page 876]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  1430
          FEDERAL TAX CREDITS FOR STUDENTS AND THEIR FAMILIES

  (Mr. DOGGETT asked and was given permission to address the House for 
1 minute.)
  Mr. DOGGETT. Madam Speaker, since the broad outlines of economic 
recovery legislation were first announced, Representative Tom Perriello 
and I have been working with our colleagues to see that that 
legislation was strengthened to include additional assistance for 
students and their families, students who deserve all the education 
that they are willing to work for.
  Today we are pleased to announce success. The legislation that will 
be filed to improve and strengthen our economy at this time of economic 
downturn will include about $12.5 billion in new federal assistance 
over the next 2 years in the form of federal tax credits. These tax 
credits will be expanded to include textbooks and course materials. 
They will help now so that every family that is spending a dollar on 
higher education this year will know they will get that dollar back, up 
to $2,500 next year when they pay their tax return.
  For the first time in history, this will be a refundable credit, as 
we proposed it, so that families making less than $40,000 a year, who 
did not qualify for the full credit in the past, will now be entitled 
to get up to $1,000 of their expenses. At a time of economic downturn, 
this is the time to support our students and their families. Help them 
and help rebuild our economy.

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