THE WHITE HOUSE
Office of the Press Secretary
ADMINISTRATION RELEASES STATE-BY-STATE ANALYSIS ON EDUCATION IMPACT OF TAX CUT PROPOSAL
The Clinton Administration today released a state-by-state analysis of tuition tax credits available to Americans in the President's tax cut proposal. This analysis reflects the number of people who will be helped by tuition tax credits over the next several years under the President's tax cut proposal compared to the House and Senate tax plans. The Administration's HOPE Scholarship and 20 percent tax credit would provide an estimated $35 billion in tax relief while the House and Senate versions of HOPE Scholarships would provide $22 billion and $20 billion respectively. The House and Senate proposals provide the greatest benefits to higher income families who can afford to save large amounts for their children's college education, and they offer no tax benefits for education beyond the first two years of postsecondary education.
A complete copy of the state-by-state analysis is available via U.S. Newswire or by calling the White House press office at 202/456-7150.