by Kyle Pomerleau
July 26, 2013
Senator Marco Rubio (R-FL) and Congressman Aaron Schock (R-IL) recently introduced the Higher Education and Skills Obtainment Act, which would reform the current tax subsidies for higher education by eliminating the current assortment of education tax credits and deductions and consolidating them into one higher education credit called the Higher Education and Skills Obtainment Credit. This proposal reduces some complexity that exists in the current tax benefits for higher education, targets the credits for a narrower population of taxpayers, and saves taxpayers money. Although this reform is a step in the right direction towards a simpler tax code, there is still room for a conversation about whether the tax code is the right tool for making college more affordable.