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Helping Iowa Students Achieve College Dream
POSTED ON July 24, 2014

To graduate from college is a celebrated accomplishment. However, years of hard work culminate in a degree that often comes with a high price tag. To complicate things further, our broken tax codes add obstacles and make it difficult for Americans to truly plan for the cost of college. H.R. 3393, the American Opportunity Tax Credit, brings the American student a simplified solution. It takes the 15 overlapping provisions and 90 pages of IRS instructions of the current American Opportunity Tax Credit, the Hope Scholarship Credit, the Lifetime Learning Credit, and the college tuition deduction and consolidates it into one simplified credit. It also allows Pell Grants to be used for more expenses, including room and board, without triggering additional tax liability. “This legislation represents a true bipartisan collaboration in the U.S. House. Reducing the amount of bureaucratic red-tape helps students get the assistance they need without endless paperwork. I am proud to vote for H.R. 3...