[CLSTR]
< Back to all clusters
[POLITICS] · United States · 3 sources

started · updated

Part of situation: US federal K-12 scholarship tax credit implementation (6 clusters)

Federal Scholarship Tax Credit program expands as states opt in

Federal Scholarship Tax Credit school choice education tax credit scholarship organizations K-12 funding

The Federal Scholarship Tax Credit (FSTC) program, established under the One Big Beautiful Bill Act, is expanding as states decide whether to participate. The program allows taxpayers to receive a dollar-for-dollar tax credit of up to $1,700 annually, or $3,400 for married couples filing jointly, when donating to scholarship-granting organizations (SGOs).

As of recent reports, approximately 30 to 31 states have opted into the program. Participation is required on an annual basis for students to access the funds. New York Governor Kathy Hochul has officially opted in, while New Jersey Governor Mikie Sherrill is currently reviewing the regulations released by the U.S. Treasury Department and the IRS.

The FSTC is designed to support a wide range of students, including those in public, charter, and private schools, as well as those who are homeschooled. Funds can be used for various educational expenses such as tutoring, books, computers, uniforms, and special needs services. To qualify for the credit, a student’s family income must be no more than three times the area median income.

Entities

Donald Trump · Internal Revenue Service · Kathy Hochul · New York · U.S. Treasury Department

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

Take Action Now: Urge your Governor to Opt in to the Federal Tuition Program - Agudath Israel of America [agudah.org]
The Federal Scholarship Tax Credit Program Is Nearing › American Greatness [amgreatness.com]
New York Gov. Hochul Opts in to Education Freedom Tax Credit; NJ Gov. Sherrill Is Reviewing Regulations - The Jewish Link [jewishlink.news]