As I mentioned above, the Balanced Budget Act has tax credits for college tuition. Parents can also contribute money to a tax-free education savings account for their children. Furthermore, the Balanced Budget Act also makes substantial investments in our children's education. Pell Grants, College Work-Study, Perkins Loans, and vocational education are all increased next year under this budget. The education tax credits and programs are critical, because we must continue to strengthen our commitment to education.
Education is the key to economic opportunity for the people of our country.
A solid education has always been the key to a better future. We have made substantial progress towards reducing our federal deficit. But that doesn't mean we can rest on our laurels and expect the budget to balance itself. After all, you don't balance your checkbook once and then forget about it. As with any compromise, it is not perfect.