High-income taxpayers in nine states can profit by donating to organizations that support private school vouchers. The federal government offers a tax deduction on a portion of such donations, as it does for donations to other types of charities such as food banks. Laws in nine states offer a tax credit on the full amount of school voucher donations (but not other types), effectively allowing donors to make a profit. The Educational Opportunities Act, currently under discussion, would expand this practice nationwide. Under the EOA, individuals would receive up to $4,500 in credit and corporations $100,000. Seventeen states currently offer school voucher tax credits.
Tax Justice Blog (5/17/17)
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