Tomorrow, May 13th, the House Ways and Means Committee will be marking up its tax plan for the reconciliation bill: AMENDMENT IN THE NATURE OF A SUBSTITUTE (AINS), and it INCLUDES most provisions of ECCA. Instead of $10 billion in credits allowed, $5 billion credits are allowed. Your letters worked, and we are watching for final details and any potential changes. Please see this section by section summary. Thank you!
Now is our once in a generation chance to make it happen.
Bill text: H.R. 833/S. 292
More Details:
"The ECCA would provide K-12 scholarships for as many as two million students across America to attend schools that best meet their educational needs as determined by their parents. Under this bill, $10 billion in federal tax credits would be available for individuals and businesses that contribute to non-profit scholarship-granting organizations. The funds could be used to pay for tuition, tutoring, special needs services, homeschooling curriculum materials, and education technology, among other eligible uses. Scholarships would be funded with private donations, not federal dollars, and donors would receive a federal tax credit. The ECCA would expand school choice and opportunity while respecting federalism, protecting religious liberty, and ensuring private school autonomy."- Invest in Education Coalition (Endorsed by U.S. Conference of Catholic Bishops Committee on Catholic Education (USCCB) & the Connecticut Catholic Conference)
"The Educational Choice for Children Act would allow taxpayers to deduct up to 10% of their adjusted gross income and corporations up to 5% of taxable income as donations to private K-12 scholarship funds. It builds on policies in 21 states — including Pennsylvania, Texas, and Arizona — allowing similar deductions on state tax returns. Agency leaders interviewed by The Washington Times expressed optimism that the act will pass the Senate and House in May’s budget reconciliation process, allowing them to distribute an average of $4,500 per student. Federal Tax Credit Could Steer $10 Billion To Private School Scholarships.