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In these comments, the Center for American Progress expresses its support for a proposed IRS regulation that would close a current tax credit loophole.
Education, K-12
Senior Manager, Media Relations
[email protected]
Associate Director, Media Relations
Director, Federal Affairs
In these comments, the Center for American Progress expresses its support for a proposed IRS regulation that would close a current loophole that allows citizens and corporations to make a profit by donating to state tax credit scholarships and vouchers for a state or local tax credit while also claiming a federal charitable deduction for this same contribution. The current loophole allows private donors and corporations to funnel money away from the public school system and into private schools at a time when many public schools are already underfunded. It is vital for the IRS to step in and scale back or deny the federal charitable tax deduction where states are already providing donors with a tax credit for school voucher programs.
Read the full comments here.
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