Summary
The IRS and Treasury Department are looking for public opinions on how to roll out a new federal tax credit scholarship program. This program, created under the One Big Beautiful Bill Act, is meant to help students from low- and middle-income families with education costs, primarily focusing on private school tuition.
Key Facts
- The IRS and Treasury Department are involved in the planning of a new tax credit program.
- The program is part of the One Big Beautiful Bill Act (OBBBA).
- The tax credit is for donations to organizations that provide scholarships to K–12 students.
- This initiative targets students from low- and middle-income families.
- The program is mainly to help pay for private school tuition but can also cover other educational costs.
- Each state will decide if it wants to participate in the program.
- The IRS is seeking public feedback on the implementation of the program.
