Frank Pallone: “And again what we are really talking about here is the recognition of the fact that today, unlike maybe 10 or 20 years…”

“And again what we are really talking about here is the recognition of the fact that today, unlike maybe 10 or 20 years ago, it takes a lot more money to go to college, and so if you do not have a national service program, if you do not have direct loans, if you do not have innovative ways of trying to pay for college tuition, you are not going to be able to make it. Now, the President in his State of the Union Address talked about families, parents, being able to pay up to $10,000 in tuition for their students and that that would be tax deductible. As you know, in the process of this budget debate the Republicans and the Democrats have talked about some sort of tax cuts or tax breaks. But again I would suggest that if you look at the tax breaks suggested by the Republican leadership, they are mostly for large corporations and for the well-to-do, whereas the President now is saying here again education is a major issue. If we allow that kind of tax deductibility, it expands the ability of parents to help pay their kids' education, and if we are going to do any kind of tax cut or tax break, that should be the kind of tax cut or break that we should institute because it is an investment in the future of the country.”