http://www.washingtonwatch.com/bills info@washingtonwatch.com http://www.pjdoland.com/chai/?v=0.1 http://www.washingtonwatch.com/bills/history/110_HR_2458.html?rev=7526 <p>H.R. 2458 would amend the Internal Revenue Code of 1986 to consolidate the current education tax incentives into one credit against income tax for higher education expenses.</p> <h2 id="toc0"> Detailed Summary </h2> <p>Universal Higher Education and Lifetime Learning Act of 2007 - Amends the Internal Revenue Code of 1986 to replace the Hope Scholarship and Lifetime Learning Tax Credits with a partially refundable Higher Education Tax Credit covering: (1) up to 50% of a taxpayer's higher education expenses for a taxable year that do not exceed $3,000; and (2) up to 30% of such expenses between $3,000 and $8,000.</p> <p>Sets a lifetime credit limitation of $12,000 per student.</p> <p>Applies the credit to no more than two years of graduate education.</p> <p>Repeals the tax deduction for qualified tuition and related expenses.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc1"> Status of the Legislation </h2> <p>Latest Major Action: 5/23/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc2"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc3"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 7526@http://www.washingtonwatch.com Thu, 02 Aug 2007 01:47:54 EDT http://www.washingtonwatch.com/bills/history/110_HR_2458.html?rev=3598 <p>H.R. 2458 would amend the Internal Revenue Code of 1986 to consolidate the current education tax incentives into one credit against income tax for higher education expenses.</p> <h2 id="toc4"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc5"> Status of the Legislation </h2> <p>Latest Major Action: 5/23/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc6"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc7"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 3598@http://www.washingtonwatch.com Tue, 03 Jul 2007 17:13:51 EDT http://www.washingtonwatch.com/bills/history/110_HR_2458.html?rev=3599 <p>H.R. 2458 would amend the Internal Revenue Code of 1986 to consolidate the current education tax incentives into one credit against income tax for higher education expenses.</p> <h2 id="toc8"> Detailed Summary </h2> <p>Universal Higher Education and Lifetime Learning Act of 2007 - Amends the Internal Revenue Code of 1986 to replace the Hope Scholarship and Lifetime Learning Tax Credits with a partially refundable Higher Education Tax Credit covering: (1) up to 50% of a taxpayer's higher education expenses for a taxable year that do not exceed ,000; and (2) up to 30% of such expenses between ,000 and ,000.</p> <p>Sets a lifetime credit limitation of ,000 per student.</p> <p>Applies the credit to no more than two years of graduate education.</p> <p>Repeals the tax deduction for qualified tuition and related expenses.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc9"> Status of the Legislation </h2> <p>Latest Major Action: 5/23/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc10"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc11"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 3599@http://www.washingtonwatch.com Tue, 03 Jul 2007 17:13:51 EDT