Obama Seeks to Make Permanent American Opportunity Tax Credit

For over 50 years, Bloomberg Tax’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...

President Obama renews his call to make permanent the American Opportunity Tax Credit, noting that the unemployment rate for individuals without a college degree is nearly twice the rate as for those with one. The credit was created through the American Recovery and Reinvestment Act, and the president proposed in February to make it permanent, which would cost about $58 billion over 10 years, according to JCT. “We've got to make sure that in good times or bad, our families can invest in their children's future and in the future of our country,” Obama says at the White House. 

Request Daily Tax Report