Extension of the American Opportunity Tax Credit beyond 2010

by Gerald Shedletsky
(Lincoln University, PA 19352)

College tuition costs are increasing at a pace well beyond the cost of living and well beyond our ability to absorb these increases. The economy is such that my company, and many others have effectively reduced our income with by taken measures such as freezing salary increases, discontinuing the 401K company contribution, elimination of bonuses.

529 plans have taken a hit with the poor stock market performance thus forcing us to take education loans.

In my personal case, I'll have a second child entering college.

Extension of the American Opportunity Tax Credit is only one measure that must be taken to ensure our children are getting advanced educations. American is quickly falling behind in education when compared to other countries, and our leadership position must be restored to ensure national security and prosperity.