a popular bill for politicians of any party

[Anonymous]

It's time to bring tax credits/deductions up to modern day.

The American Opportunity Tax Credit is 2500 a year for 4 years. And it phases out at a certain income

Lifetime Learning Credit (LLC) is 2k once. Also phases out.

The AOTC has been 2500 since 2009. Obama’s original proposal sought to expand on existing tax credits by covering 2/3 of the cost of tuition at an average public college, so this 2500 was already big compromise.

Make it 10k per year..

Make the LLC 10k.

Make the credit for DC residents 20k.

No income phase outs.

Social Security and other things for the oldest, richest part of the population moves with inflation. Time for family tax credits to do the same.

[Anonymous]

or phase out can be raised from current 160k to 400k

[Anonymous]

No thanks. As the deficit continues to expose we don’t need more tax cuts for wealthy people.
- full pay out of pocket parent.

[Anonymous]

Anonymous wrote:No thanks. As the deficit continues to expose we don’t need more tax cuts for wealthy people.
- full pay out of pocket parent.

this is naive. the richest 1% are pulling in millions and millions of tax advantaged strategies to never pay taxes off their exits from start ups, borrowing against their money instead of ever paying cap gains, and using "opportunity zones" to build massive development in highest zip codes in Brooklyn and other cities without ever paying a dime on gains.

and you get on your high horse about upper middle class people taking a 2500 tax credit off 95k in tuition. ridic

[Anonymous]

I don’t understand why you would want to get rid of income phase outs. By all means, discuss what those levels should be but it makes no sense to offer these credits to people making millions of dollars a year. Just flushing money down the toilet.

[Anonymous]

it should move up every year. the idea that is was 2500 and a phase out at 160k in 2009 and it's the same now makes zero sense.