A bill to amend the Internal Revenue Code of 1954 to permit a taxpayer to deduct expenses paid by him in connection with his education or training, or the education or training of his spouse or any of his dependents, at an institution of higher education or a trade or vocation school.

[AI summary unavailable — showing source text] Permits a taxpayer, under the Internal Revenue Code of 1954, to deduct expenses paid by him in an amount up to $1,000 in connection with his education or training, or the education or training of his spouse or any of his dependents, at an institution of higher education or a trade or vocational school. Specifies educational expenses that are deductible and institutions of higher education which qualify for the deduction. (Amends 26 U.S.C. 218)…