The Senate Finance Committee held a hearing Tuesday to examine ways to improve tax credits for education and lower student debt as part of the latest series of hearings on tax reform.
“As the Finance Committee continues to drill down with hearings on reform, the committee will focus on one byzantine part of the tax code that’s ripe for improvement: how the tax code incentivizes higher education,” said Senate Finance Committee chairman Ron Wyden, D-Ore., in his opening statement. “Everybody knows that getting a college education is one of the surest ways to climb the economic ladder. But the skyrocketing cost of college leads to smothering loads of student loan debt, and in fact, it can even have the effect of reinforcing inequality.”
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