Bill > HR2097

This bill proposes to create a new tax credit for parents to help cover elementary and secondary education expenses for their children. Specifically, parents would be eligible for a refundable tax credit of up to $10,000 per qualifying child for expenses such as tuition, fees, computers, educational software, tutoring, special needs services, transportation fees, and academic testing services. The credit would be subject to income limitations, with the credit amount reducing by $50 for every $1,000 that a taxpayer's modified adjusted gross income exceeds $150,000 for joint filers or $75,000 for individual filers. Eligible schools would include public, charter, private, parochial, and religious schools providing elementary or secondary education. The bill explicitly excludes non-academic expenses like sports fees, uniforms, and after-school activities from qualifying. Additionally, the credit would be reduced by any tax-free distributions from Coverdell Education Savings Accounts. The bill aims to provide financial support to parents in choosing the most appropriate educational setting for their children, recognizing the value of both public and private school systems in supporting student development.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2097/all-info