Treasury Issues Regulations for Federal School Choice Tax Credit Program

The U.S. Department of the Treasury and IRS have released proposed regulations for the new Federal Scholarship Tax Credit, also known as the Education Freedom Tax Credit. This initiative establishes the first federal tax credit, up to $1,700 annually, to support private contributions for K-12 scholarships. The move aims to expand educational freedom and parental rights, marking a significant step for a nationwide school choice program.