Bessent Advances Divisive $26 Billion School Tax Credit Plan
The program, dubbed the Education Freedom Tax Credit, allows individual taxpayers to direct up to $1,700 of their annual federal tax bill to nonprofits that grant scholarships to students to pay for qualified educational expenses.
Bloomberg • Erin Hudson
A sweeping new federal school-choice program is moving from legislation to reality, with proposed rules laying out how taxpayers could help fund K–12 scholarships beginning in 2027. With support potentially reaching millions of students and covering expenses from private-school tuition to tutoring and special-needs services, the details now taking shape could have significant consequences for families seeking greater freedom in their children’s education.
