Democrats reject Republican effort to help parents save more for college

Democrats reject Republican effort to help parents save more for college

TRENTON, N.J. –Assembly Republican BettyLou DeCroce pressured Democrats to increase a proposed income-tax deduction for contributions to NJBEST, the state-sponsored college savings account.

Watch: Assemblywoman DeCroce pressures Democrats to increase income-tax deduction for college savings.

For two years, Assemblywoman DeCroce and Assemblymen Anthony M. Bucco and Ned Thomson have sponsored bill A1405 that would allow a deduction up to $15,000 for married couples and individuals making up to a certain income limit.

“College costs are a great concern of everyone. I believe the taxpayers need greater support than this bill provides,” said DeCroce (R-Morris). “College costs are going to increase and we all know that. I would like the caucus to consider an amendment and take into consideration the $15,000 deduction.”

At the last voting session, Democrats rejected the amendment 50-26. They proceeded with their legislation that limits the deduction to $5,000 for families with unlimited income.