H.R. 3388, The College Affordability Tax Relief Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 3388 would amend the Internal Revenue Code of 1986 to increase and make permanent the deduction for tuition and related expenses.

Detailed Summary

College Affordability Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) increase the tax deduction for tuition and related expenses; (2) allow an inflation adjustment after 2008 of taxpayer adjusted gross income levels used to determine eligibility for, and allowable amounts of, such deduction; and (3) make such deduction permanent.

Status of the Legislation

Latest Major Action: 8/3/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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