Tax Credits and Increased Funding to Support Public School Teacher Salaries
This Act introduces a new, refundable tax credit for public school teachers and early childhood educators to supplement their wages, reaching up to $15,000 annually based on the poverty level of their school. It also increases the existing tax deduction for classroom expenses and mandates federal funding for school districts that maintain or increase teacher salaries. Crucially, state and local entities are prohibited from reducing teacher pay due to this federal credit.
Key points
Establishes a new refundable tax credit for eligible educators, providing up to $15,000 annually, based on the student poverty ratio of the school.
Increases the tax deduction for teachers' out-of-pocket classroom expenses from $250 to $500 and expands eligibility to early childhood educators.
Mandates federal funding for incentive grants to local school districts that maintain or increase their teacher salary schedules.
Prohibits state or local agencies from reducing teacher compensation or loan forgiveness programs because teachers receive this federal tax credit.
Expired
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