Jim Nussle: “Education is the foundation Iowans need to compete in an ever-changing complicated world. As Iowans have returned to…”

“Education is the foundation Iowans need to compete in an ever-changing complicated world. As Iowans have returned to classrooms for the new school year, we should act to make our commitment to education access clear. Last year, the Congress approved and the President signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001. This important new law contained significant tax relief to improve the affordability of education from kindergarten through college. Unfortunately, due to arcane rules in the Senate, these education provisions will expire after December 31, 2010. Failing to act would mean that Americans would lose $5.5 billion in tax relief on New Year's Day, 2011. Knowing the importance of providing affordable education for Iowa's students of all ages, I introduced the Education Affordability Act, H.R. 5189, in July of this year. My legislation would repeal the sunset provisions and make permanent provisions eliminating the 60-month limit on the deductibility of student loan interest payments, increasing income limits for student loan interest deduction, and providing tax-free employer-provided education assistance.”