Letter from ACE President Ted Mitchell to Majority Leader Mitch McConnell and Minority Leader Charles E. Schumer urging the Senate to reject provisions in the House version of the Tax Cuts and Jobs Act that repeal and make detrimental changes to education tax benefits that help millions of students and their families finance and repay a college education.
The House-passed bill would repeal the Lifetime Learning Credit, while not substantially increasing the American Opportunity Tax Credit (AOTC) (Sec. 1002); the Student Loan Interest Deduction (SLID) (Sec. 1204); the qualified tuition reduction (Sec. 117 (d)); and educational assistance programs (Sec. 127).