• Wednesday, February 15, 2012
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Congress Nears Deal on Higher-Education Tax Incentives

Negotiators for the U.S. Senate and House of Representatives have agreed to consider a bill that would include the expired tuition tax deduction and research tax credit, according to news reports.

The House Ways and Means Committee released details on Thursday of the complex package of legislation. Congressional leaders had been pushing for the House to vote on the bill on Thursday evening, but it appears that both chambers will vote today, if other contentious aspects of the legislation can be resolved and there are votes at all. The bill still faces hurdles in the Senate. This session of Congress was expected to adjourn at the end of this week.

The tuition tax deduction and the research tax credit, which expired at the end of 2005, would be retroactively extended under the House plan.