WASHINGTON (AP) - President Barack Obama is calling on Congress
to make permanent a $2,500 college tuition tax credit that's set to
expire at the end of the year.
The American Opportunity Tax Credit was included in the $814
billion economic stimulus bill Obama signed last year. He had
proposed making the tax credit permanent in his 2011 budget
proposal, but Congress has not acted on his request.
Obama appeared in the White House Rose Garden on Wednesday with
three families who have taken advantage of the tax credit. Obama
says the credit is worth $10,000 over four years and will help
families invest in their children's future.
A Treasury Department analysis says 12.5 million people used the
credit last year, for an average of about $1,700.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
