Congress should be working every day to help create jobs and grow the economy.
So why did Congress go home for the holidays without extending three important tax cuts that expire on Dec. 31, making college more expensive for Iowa students, hindering growth in one of Iowa’s most successful industries and ending incentives for Iowa businesses to hire unemployed veterans?
The first expiring tax cut is the $4,000 student tuition tax deduction, which provides a tax cut for students and families with children in college. Every day more and more Iowa families are finding college to be financially out of reach. Since 2000, tuition at Iowa publicuniversities has increased 83 percent.
This isn’t sustainable, and can’t continue. A good education provides students and families with greater job opportunities and gives Iowa students the skills and knowledge to compete in an increasingly competitive global economy.