Professor iffy has announced $1 billion for students. It's not really as generous as the iffy is saying. He would cancel educationa and textbook tax credits. He is canceling $700 million in grants. The way iffy has structured this he may increase student incomes to a point that they are not eligible for existing programs, making them worse off than they are now. So besides robbing Peter to pay Paul. The big grit program is smoke and mirrors like most grit programs. Spending programs like this should be eliminated and we should continue with tax relief for us all.
· $210 million in education tax credits for students in 2010 eliminated.
· $39 million in textbook tax credits for students in 2010 eliminated.
· $240 million of education and textbook tax credits transferred to parents in 2010 eliminated.
· $203 million in carry forward education and textbook tax credits students can use in future years whey they are earning more eliminated.