Wednesday, 13 October 2010 14:21
Obama Adm: Stimulus Tax Credit Saved Each Louisiana Family $1,500
Written by  {ga=staffwriters}

WASHINGTON, DC – Today, President Obama held a meeting with college students and their families on the impact of the American Opportunity Tax Credit (AOTC), which was a key part of the American Recovery and Reinvestment Act and which the President has proposed to make permanent in his FY2011 budget.  According to the White House press release, "In Louisiana alone, the AOTC has saved 108,000 families $171 million – an average of $1,584 per family." 

“When families invest in the future of their children, they’re making an investment in our country’s economic future,” said Treasury Secretary Tim Geithner.  “The American Opportunity Tax Credit has significantly reduced the price tag on higher education for millions of middle class families and will pay dividends for our country in higher growth and incomes.”

Today, the Treasury Department issued a new report analyzing how the AOTC has made college more affordable for more Americans.  The Treasury report found that the AOTC increased overall tax benefits for higher education expenses by more than 90 percent, helping 12.5 million students and their families pay for college in 2009.  Recipients of the AOTC received an average tax credit of more than $1,700, which is an increase of about 75 percent over the average Hope Credit or Lifetime Learning Credit recipient in 2008. The report also found that since the AOTC is refundable, 4.5 million students and families received a tax refund from the AOTC in 2009 with an average value of $800, which they would not have been eligible for in 2008.

A copy of the report, which includes state-specific numbers for Louisiana, can be found here.

For more information on how the Recovery Act has impacted Louisiana, visit the new interactive map available here.

Information from White House press release

 

 

Login to post comments
  • Cat Fights on the Hot Cement Confederate New Orleans statues
  • Ex-Saints, Bears, Bills, NFL Exec, Jim W. Miller discusses NFL Draft tomorrow
  • Trump's new plan; Curtains on tax returns release; 40% say Trump-Russia; Probing Obama admin
  • Watch Louisiana Governor Edwards talk about CAT Tax failure

catRarely, have I seen few issues that have generated as much raw heat, tension, and passion than the Confederate monuments controversy. 

Just as existed during the real civil war, where brothers battled brothers, social media is the battleground, particularly Facebook, pitting friend against friend.

On one side of the tense divide, there are those who are protecting the New Orleans civil war era monuments.  Burnt in effigy, forever, is the symbol of Mayor Mitch Landrieu for up-ending what the monument protectors consider to be the loving civil society of New Orleans.

Lately, events have turned somewhat militaristic.

Some protectors of the Confederate monuments have been staying vigilant, in person and online, even surveilling during the wee hours of the morning, waiting for the next Mayor Landrieu attack. On Sunday morning, with protections of snipers, masked workers and a dumbstruck audience, the worst of all of the monuments was cut and carried., the Liberty Monument. 

Read More

miller nfl live2 5It’s D-Day or Draft Day tomorrow in the NFL.

More specifically, Thursday represents the first day of the NFL draft 2017.

Read More

 

trump curtainsThe major President Trump news of the day focuses upon taxes, not only the tax cuts he is proposing but his own taxes, which he obviously, refuses to unveil.

 

Read More

edwards play money 1

At a press conference today, Louisiana Governor John Bel Edwards said the CAT Tax did not pass the House Ways and Means Committee.  The Governor, in addressing the media said that "the fate of that bill was decided long before we unveiled it".

Read More

latter-blum2

Sen. Appel talks budget, economy

TRUMP TALK

Dead Pelican

Optimized-DeadPelican2 1 1