Bill 119 HR 228, also known as the "Teacher Tax Deduction Enhancement Act," aims to amend the Internal Revenue Code of 1986 in order to increase and adjust for inflation the above-the-line deduction for teachers. This deduction allows teachers to deduct up to $250 from their taxable income for out-of-pocket expenses related to classroom supplies and materials.
The bill proposes to increase this deduction amount from $250 to $500, and also includes a provision to adjust this amount for inflation in future years. This means that the deduction would increase automatically to keep pace with rising costs.
The purpose of this bill is to provide additional financial relief to teachers who often spend their own money on necessary supplies for their classrooms. By increasing the deduction amount and adjusting for inflation, the bill aims to better support teachers in their efforts to provide a quality education for their students.
Overall, Bill 119 HR 228 seeks to recognize and alleviate the financial burden that many teachers face, while also acknowledging the important role they play in shaping the future of our nation.