Gillibrand Calls for College Tuition Tax Breaks

Gillibrand Calls for College Tuition Tax Breaks

Submitted by Phil Giltner on May 16, 2006 - 10:04am.

From the Times Union May 11

SARATOGA SPRINGS -- Kirsten Gillibrand went back to college Wednesday to discuss her proposal to let middle-class parents deduct up to $10,000 a year in college tuition.

Standing outside the entrance to Skidmore College, surrounded by students and parents, Gillibrand criticized the Bush administration for cutting federal tuition assistance. Gillibrand, a Democrat, is seeking to replace U.S. Rep. John Sweeney, R-Clifton Park, in the 20th Congressional District.

"Costs should not be what prevents them from getting a good education," Gillibrand said. "This is a tax cut for middle-class families."

The tax cut would cost the federal government about $10 billion a year, she said.

She said deciding on who gets tax breaks is a matter of setting priorities, she said.

"Oil companies are getting $5 billion in tax breaks," she said.

Lifting President Bush's tax cuts on those who make $1.2 million a year or more would save $56.2 billion, enough to pay for the program for five years.

Over the long run, Gillibrand said, the tuition break would enable students to earn more when they graduate -- eventually ending in increased income tax to the government.

The Democratic candidate later in the day accepted the endorsement of the Working Families Party.

http://www.gillibrand2006.com/node/201