Bob Schaffer: “This is a bill that is about rich versus poor. And it is surprising to me to hear the opponents of the rule and the bill…”

“This is a bill that is about rich versus poor. And it is surprising to me to hear the opponents of the rule and the bill speak so viciously against the poor in America because that is what they are doing. See, if one is wealthy in America today, one gets a deduction for every donation made to a school whether it is public or private. But if one is poor, one does not get that deduction. Since most poor people do not itemize, they do not take the deduction. This is an above-the-line deduction that we are proposing in the legislation which means poor families, those earning $20,000 or less on an individual return, 40,000 for a joint return, would receive a deduction on money they spend on education of their children which is a benefit they do not get today. It is a benefit that will amount to about $475 for a family in America. It is a benefit they do not have today.”