arrow_back Back to App

Tax Credits for Education and Workforce Training Scholarships

This law establishes new federal tax credits for individuals and corporations who donate to organizations providing scholarships for K-12 education and workforce training. The goal is to encourage private funding for diverse educational options, including private schools and vocational programs. These scholarships are explicitly excluded from the recipient's taxable income, protecting families from additional taxes or loss of federal benefits.
Key points
Taxpayers receive a federal tax credit for contributions made to approved scholarship or workforce training organizations.
Scholarships cover expenses for elementary/secondary education (including private schools) and vocational training, apprenticeships, and industry certifications.
A national cap of $10 billion annually is set for these credits, allocated among participating states.
The law prohibits federal control over private, religious, or home education providers receiving scholarship funds.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_56
Sponsor: Sen. Cruz, Ted [R-TX]
Process start date: 2023-01-24