A bill to amend the Internal Revenue Code of 1954 to allow individuals a credit against income tax for expenses paid by a taxpayer in connection with his education or the education of his spouse or any of his dependents at an institution of higher learning.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow an income tax credit for the expenses paid for the higher education of the taxpayer or a dependent. Limits the credit taken for the education of any one individual to either $1,500 or one half of the individual's expenses, whichever is less. Restricts application of the credit to expenses incurred by full-time students at institutions providing credit towards a bachelor's or higher degree.…