Bill to offset student debt through tax credit passes Pennsylvania House

HARRISBURG, Pa. (AP) — Employers in Pennsylvania could get a tax credit if they make contributions to their employees’ tuition savings account, under a Pennsylvania House of Representatives bill. The legislation passed out of the chamber unanimously on Wednesday. It now goes to the state Senate. The bill would allow employers to contribute up to $500 to an employee’s tuition savings account for a tax credit equal to 25% of the employer’s total contributions. Sponsors for the bill say that with student debt totaling $1.77 trillion nationally, the legislation would help reduce the financial burden on students.