🇺🇸 Donald Trump · 10 sources
Trump Administration Launches National School Choice Tax Credit
What happened
The Education Freedom Tax Credit program allows individuals and couples to donate to non-profit Scholarship Granting Organizations (SGOs) and receive a tax credit, with SGOs using the funds to offer K-12 scholarships for various educational expenses. The program is expected to fund as many as 2.2 million scholarships each year by 2030, at an annual cost of nearly $26 billion. Eligibility for the scholarships requires family income below three times the median for their area, adjusted for size. T
Why it matters
The program aims to expand educational choices for families across the country, particularly low-income and foster children, by making it easier for them to apply and use the funds for various educational expenses.
Key facts
- Individuals can claim a tax credit of up to $1,700, while married couples can claim up to $3,400.
- The program is intended to fund as many as 2.2 million scholarships each year by 2030.
- Participating states must submit lists of approved SGOs by February 15.
Publisher evidence used
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