Byron Dorgan: “Since the year 1647, when the colonists in Massachusetts created tax-supported public education, we have had a long and…”

“Since the year 1647, when the colonists in Massachusetts created tax-supported public education, we have had a long and proud tradition in this country of public schools. By far, the majority--in fact, well over 90 percent--of the students who attend elementary and secondary schools in our country will attend public schools as part of our public education system. We have substantial tax incentives that already exist in this country in our Tax Code to support education. I am holding a list of 16 such tax incentives. They provide over $78 billion in tax reductions over a 5-year period for various kinds of expenditures and activities dealing with education. One of them, $19.6 billion, is the deduction for charitable contributions to educational institutions. That is a method by which some make contributions to private schools and get tax deductions for that. All of these provisions dealing with tax incentives are important. This Congress has generally supported them and increased them substantially last year with HOPE and lifetime learning credits, deductibility for interest on student loans and various other devices.”