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ACE Issues Talking Points on Student and Family Tax Simplification Act

July 09, 2014

capitol dome

Also Submits Testimony to the Senate Finance Committee on Higher Education and the Tax Code

​ACE has issued a set of talking points on the Student and Family Tax Simplification Act (H.R. 3393), which the House of Representatives is expected to vote on as early as next week.

The House Ways and Means Committee voted 22-13 June 24 to approve the bill, which combines the Hope Scholarship Credit, the American Opportunity Tax Credit (AOTC), the Lifetime Learning Credit (LLC), and the tuition deduction into a single AOTC and makes it permanent. The lead sponsors of the bill are Rep. Diane Black (R-TN) and Rep. Danny Davis (D-IL).

The talking points explain that while consolidating current student tax credits and making the AOTC permanent are positive developments—along with provisions that make an important fix to the interaction between the AOTC and the Pell Grant—the improvements come at the expense of graduate and adult students who use the tuition deduction or the LLC, as well as many low- and middle-income undergraduate students.

ACE sent a letter to Ways and Means leaders ahead of the committee vote noting that despite the positive changes the bill would make, it cannot support the bill.

ACE also sent testimony for the record to the Senate Finance Committee for its June 24 hearing on higher education and the tax code, along with eight other higher education associations.

In their remarks, the groups discuss the benefits of the current higher education provisions in the tax code to students and families and outline how tax reform provides an excellent opportunity to improve these benefits.

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