Tax Foundation Economist, Kyle Pomerleau recently sat down to speak with Heartland Education Research Fellow, Joy Pullman about an in-depth report he authored entitled – The Higher Education and Skills Obtainment Act: A Proposal to Reform Higher Education Tax Credits. The Act, proposed by Senator Marco Rubio (R-FL) and Congressman Aaron Schock (R-IL), would consolidate current education tax credits and deductions into one higher education credit called the Higher Education and Skills Obtainment Credit.
As his report indicates, Mr. Pomerleau explains why “tax credits for higher education may not be the best way to encourage college attendance.” Among the issues outlined by Mr. Pomerleau is the idea that tax credits such as these may actually be driving the cost of education up, making college more and more expensive. The discussion does go into the positive aspects of the credit, but also calls for a larger discussion as to whether education tax credits are right for the country.[Subscribe to the Heartland Daily Podcast free at this link.]