WASHINGTON, D.C. — Sen. Al Franken, D-Minn., cosponsored legislation today that would provide a $4,000 tax credit per college student per year up to $16,000.
“Every family wants to make the dream of college a reality for their children,” Franken said in a statement. “Minnesotans have been talking to me for years about the need to make higher education more affordable. I want them to know I’ve been listening. This bill would change the math for middle-class families all over Minnesota who are deciding whether college is a possibility on their budgets.”
The full credit would be available for families making up to $140,000. A partial credit would be available for families make up to $160,000. The act also expands eligible expenses to include 50 percent of textbook costs.