Shea Levin — text status

🇺🇸 TREASURY PLAN OFFERS UP TO $3,400 TAX CREDIT FOR SCHOOL DONATIONS - The Treasury Department and the IRS published proposed regulations for a new federal tax credit for donations to K–12 scholarship groups. - Under the rules, individual filers could claim up to $1,700 and married couples filing jointly up to $3,400, dollar for dollar, for contributions to approved Scholarship Granting Organizations. Those groups would fund scholarships for eligible elementary and secondary students, covering expenses such as tuition, fees, tutoring and materials at public, private or religious schools. - The credit is set to begin in 2027. Treasury estimates that by 2030 the program could draw nearly $26 billion a year in donations and fund as many as 2.2 million scholarships. The rules are open for public comment.