We’re offering middle-class families an American Opportunity Tax Credit

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Good afternoon, everybody.

We’re offering middle-class families what’s called an American Opportunity Tax Credit, a college tuition tax credit worth up to $2,500 a year.

I am calling on Congress to make this tax credit permanent so it’s worth up to $10,000 for four years of college, because we’ve got to make sure that in good times or bad, our families can invest in their children’s future and in the future of our country.

The Treasury Department is putting out a report showing what a difference these college tuition tax credits are making.

Over our first year in office, we’ve increased tax cuts for higher education by over 90 percent, and we're helping the dream of a college degree, putting that dream within reach of more than 12 million students from working families.

Now, if the Republicans in Congress had their way that would be more difficult.

They’ve proposed cutting back on education by 20 percent.

That means reducing financial aid for eight million students and leaving our community colleges without the resources they need to prepare our students for the jobs of the future.

Nothing would be more shortsighted.

There’s an educational arms race taking place around the world right now, from China to Germany, to India to South Korea.

Cutting back on education would amount to unilateral disarmament.

We can’t afford to do that.

The nation that educates its children the best will be the nation that leads the global economy in the 21st century.

Now, ultimately, this is not just about making our economy more competitive.

It’s not just about preparing our kids for the jobs of the future, though all those things are absolutely essential.

It’s also about who we are as a people.

It’s about building a brighter future where every child in this country has a chance to rise above any barriers of race or faith or station, and they can fulfill their God-given potential, where the American Dream is a living reality.

By opening the doors of college to anyone who wants to go, that’s a future we can help build together.

So, thank you all for being here.

Thank you very much, everybody.

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You lie!

[apple0154]

Good afternoon, everybody.

We’re offering middle-class families what’s called an American Opportunity Tax Credit, a college tuition tax credit worth up to $2,500 a year.

I am calling on Congress to make this tax credit permanent so it’s worth up to $10,000 for four years of college, because we’ve got to make sure that in good times or bad, our families can invest in their children’s future and in the future of our country.

The Treasury Department is putting out a report showing what a difference these college tuition tax credits are making.

Over our first year in office, we’ve increased tax cuts for higher education by over 90 percent, and we're helping the dream of a college degree, putting that dream within reach of more than 12 million students from working families.

Now, if the Republicans in Congress had their way that would be more difficult.

They’ve proposed cutting back on education by 20 percent.

That means reducing financial aid for eight million students and leaving our community colleges without the resources they need to prepare our students for the jobs of the future.

Nothing would be more shortsighted.

There’s an educational arms race taking place around the world right now, from China to Germany, to India to South Korea.

Cutting back on education would amount to unilateral disarmament.

We can’t afford to do that.

The nation that educates its children the best will be the nation that leads the global economy in the 21st century.

Now, ultimately, this is not just about making our economy more competitive.

It’s not just about preparing our kids for the jobs of the future, though all those things are absolutely essential.

It’s also about who we are as a people.

It’s about building a brighter future where every child in this country has a chance to rise above any barriers of race or faith or station, and they can fulfill their God-given potential, where the American Dream is a living reality.

By opening the doors of college to anyone who wants to go, that’s a future we can help build together.

So, thank you all for being here.

Thank you very much, everybody.

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