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Obama highlights benefits of college tax credit

WASHINGTON (AP) - President Barack Obama is calling on Congress to make permanent a $2,500 college tuition tax credit that's set to expire at the end of the year.

The American Opportunity Tax Credit was included in the $814 billion economic stimulus bill Obama signed last year. He had proposed making the tax credit permanent in his 2011 budget proposal, but Congress has not acted on his request.

Obama appeared in the White House Rose Garden on Wednesday with three families who have taken advantage of the tax credit. Obama says the credit is worth $10,000 over four years and will help families invest in their children's future.

A Treasury Department analysis says 12.5 million people used the credit last year, for an average of about $1,700.


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