By Currents News
A new federal scholarship tax credit program could make Catholic education more accessible while giving taxpayers a dollar-for-dollar federal tax credit for supporting student scholarships.
Beginning Jan. 1, 2027, eligible taxpayers will be able to redirect up to $1,700 of their federal tax liability to scholarship-granting organizations, including Futures in Education, instead of paying that amount to the IRS. New York is expected to participate in the program pending final IRS guidance.
Officials with the Diocese of Brooklyn and Futures in Education are encouraging donors to learn about the program now and prepare to help expand tuition assistance for students attending Catholic schools in Brooklyn and Queens.