On the recordMay 17, 2001
I supported this effort from the beginning. I believe that when you ask American families about tax cuts, their highest single priority is this amendment. This is a rather substantial proposal in reference to cutting the taxes of America's families. I am sure there are some very important and popular provisions in here, but when we literally ask families, if we could do one thing in the Tax Code to help you and your family in the future, what would it be, it is this amendment, this amendment which would allow families to deduct the expenses of a college education. We all know the problem. Some of the brightest young people in America either have to delay their education or change their plans because they literally cannot afford the cost of higher education or they find themselves in a position where they graduate from college with an extraordinarily high debt. With that student loan debt, a lot of choices in life are already made for them. They may not be able to become a teacher, which could have been their life's dream, because instead they have to make more money to pay off the college loan. They may not be able to become a nurse or a doctor, or whatever, because of the expense of education. What the bipartisan Schumer amendment does, which I am happy to support, is address this problem and give to American families the ability to deal with the cost of higher education.
Source
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