Instead a 75 percent tax credit for donations to fund scholarships for low- to middle-income students, Cathy Nolan, a New York State Assembly Democrat from Queens, proposes a small tax deduction on educational expenses. The value of the tax deduction would worth be around $205, compared to a scholarship worth thousands of dollars, so it couldn’t possible help a low-income or working-class child a shot at affording private school tuition.
Another problem is how she spins the counter-proposal.
“The main difference, I guess we can argue, is that the billionaires don’t get a break,” she told reporters earlier this week, according to Capital New York. Apparently she’s worried the real beneficiaries of the tax credit scholarship program will be the “rich guys.”
In other words, to prevent wealthy people from getting a partial tax credit to fund thousands of scholarships for low- to middle-income students, she’d rather give out a small tax deduction to those who can already afford private school tuition. Who does she think she’s fooling?