Renewal of educator tax deduction and school construction bonds advance

Renewal of educator tax deduction and school construction bonds advance

school suppliesThe Senate Finance Committee on July 21 approved a $95 billion “tax extenders” package that includes and improves on two NEA tax priorities: the annual $250 educator tax deduction and the Qualified Zone Academy Bond (QZAB) program. The bill extends the educator tax deduction for two years, indexes it to inflation, and expands it to include professional development expenses. The QZAB program, a mechanism that helps make renovations and repairs more affordable for school districts, would also be extended for two years and its local school district “match requirement” halved (reduced from 10 percent to 5 percent). The full Senate is likely to address tax extenders late this year.take action

Over in the House, NEA supports a bipartisan stand-alone bill that also expands the educator tax deduction and makes it permanent.

TAKE ACTION! Urge your representative to support and co-sponsor the Educator Tax Relief Act of 2015 (H.R. 2950).