Nancy L. Johnson: “I appreciate the seriousness of his concern, the amount of research he has done on this issue and the significant…”

“I appreciate the seriousness of his concern, the amount of research he has done on this issue and the significant problems that our universities could face if this legislation is implemented poorly. However, it is also true that this Congress is going to inject $40 billion through the HOPE Scholarship credit and the lifetime learning credit into our universities and colleges and other educational institutions, and indeed we do have to be sure that that money does go for the cost of education. I believe we can do it without legislation. We did put some clear direction in the conference report on the IRS reform bill, but we will be tracking it very carefully with the gentleman and using the input and the ideas that he has had to make sure that the process is as simple as it can be and yet assure the accountability for the expenditure of what is going to be billions and billions of dollars in support of an educated America.”