Independent Student Newspaper Since 1969

The Badger Herald

Independent Student Newspaper Since 1969

The Badger Herald

Independent Student Newspaper Since 1969

The Badger Herald

Advertisements
Advertisements

Gard introduces tax-relief package

State Rep. John Gard, R-Peshtigo, a candidate for U.S. Congress, introduced a plan over the weekend to help Wisconsin students bear the costs of attending college, which he plans to pursue if elected.

Gard's "Higher Education Tax Relief Package," which he "kicked off" in honor of Sunday's Green Bay Packers game, includes three main parts: student loan relief, tax breaks for tuition paying families, and incentives to save for college.

Christine Mangi, communications director for Gard's congressional campaign, said Gard has traveled the state and found people telling him taxes are limiting their financial options.

Advertisements

"He wanted to put together a plan to lower the tax burden for people just starting out, people working hard their entire lives and everywhere in between," Mangi said.

Gard is also recommending an increase in the amount of interest a student may deduct from taxes on their loan from $2,500 to $5,000.

In addition, Gard proposed to permanently establish the Student Loan Forgiveness Plan, which allows individuals to claim a tax deduction for the first 60 months of loan repayment.

Mangi said Gard recognizes the struggles both students and their families endure with paying back loans.

"[Gard] believes there should be a plan to help [students] pay off student loans and invest more of their money in the future while also taking into consideration families helping to pay for a student's education," she added.

Gard has also proposed increasing a tax credit for students paying for college out-of-pocket, and expanding the tax-free amount parents and grandparents can invest in their child or grandchild's Coverdell Education Savings Account from $2,000 to $5,000.

Eric Hogensen, a spokesperson for Steve Kagen, Gard's opponent in the Congressional race, said Kagen's campaign wants to stay on the offensive.

"I don't know if we want to get into this," Hogensen said. "We don't like to go back and forth with Gard."

Hogensen did note, though, that tuition has gone up 50 percent since Gard has been the assembly's speaker.

Mangi said Gard wants the U.S. Congress to address the issue of tax relief for college students more than it has in the past.

"He thinks Congress can be doing more to lower taxes on American families," Mangi added. "They could take a look at the debt college students face and more can be done to alleviate the burden."

Advertisements
Leave a Comment
Donate to The Badger Herald

Your donation will support the student journalists of University of Wisconsin-Madison. Your contribution will allow us to purchase equipment and cover our annual website hosting costs.

More to Discover
Donate to The Badger Herald

Comments (0)

All The Badger Herald Picks Reader Picks Sort: Newest

Your email address will not be published. Required fields are marked *