Emanuel Highlights College Aid and Tax Assistance in 5th Congressional District

Press Release

Emanuel Highlights College Aid and Tax Assistance in 5th Congressional District

Program Returns $10.5 Million in Total Financial Aid, and $1.72 Million in Tax Refunds

Today, U.S. Representative Rahm Emanuel (D-IL), held a press conference to highlight college aid and tax refunds returned to residents of the 5th Congressional District. For nearly three months, Emanuel has hosted free college financial aid and tax preparation services at his district office as part of a city-wide effort by the Tax Assistance Program - It Adds Up (TAP). More than 1,000 families from Emanuel's district received help from TAP with the Free Application for Federal Student Aid (FAFSA) applications, amounting to $10.5 million in total financial aid for higher education. In addition, 1,174 families in the 5th Congressional District received $1.72 million in tax refunds. Of these families, 190 families received tax-preparation and FAFSA-form assistance at Emanuel's District Office, resulting in $171,000 in tax refunds and approximately $500,000 worth of financial aid for higher education.

"Multi-billion dollar corporations fill out thirteen-question forms to receive multi-million dollar Export-Import Bank loans. Shouldn't it be just as easy for high school seniors and their families to pay for college? American students deserve the same easy access to college financial aid," said Emanuel. "We are breaking down the barriers Americans families face when it comes to complicated financial paperwork."

Emanuel has been a champion for breaking down the barriers that keep middle-class families from achieving their dreams of a college education. Last week, Emanuel introduced the College Made EZ Act (H.R. 1277), which dramatically simplifies the process of applying for college aid by reducing the number of questions on the FAFSA form. Since he has been in Congress, Emanuel has also introduced amendments to increase higher education tax credits, extend the tuition tax deduction, and increase Pell Grants by closing corporate tax loopholes.

"For many, going to college is the chance of a lifetime," said Emanuel. "High school seniors who have worked hard deserve to succeed, and a complicated form should never get in the way of their dreams."

The current FAFSA college loan application is over one hundred questions. It can take an average family several days and sometimes several tries to complete the questionnaire. And if one answer is wrong or inaccurately entered, they may be forced start the entire process over, which can delay determinations of aid by months. The TAP volunteers assist families through this complicated process.

The Tax Assistance Program is a non-profit service that offers free, confidential tax and student financial aid preparation, and financial consulting services to families and individuals who need assistance. Authorized by the Internal Revenue Service (IRS), TAP aids families with incomes of $35,000 or less who file for the tax credits, refunds and other benefits to which they are entitled. In the past eleven years, over 6,000 volunteers have helped 40,000 families receive over $50 million in tax refunds and financial aid.

"The Lifetime Learning Credit, the Earned Income Tax Credit and other benefits can return hundreds of dollars or more to eligible families," Emanuel said. "The tax filing process can be complicated, leaving important tax benefits out of reach for families who cannot afford professional tax preparation services. But a properly filed tax return can yield significant refunds that working families can invest in retirement savings or college funds."

Since he has been in Congress, Emanuel has been out front fighting for a simplified tax code. He has worked to make the tax code fairer for working families. He has proposed a Simplified Family Credit that integrates the Earned Income Tax Credit (EITC), the Child Tax Credit, the Additional Child Credit, and the dependent exemption into a single, fully refundable, and simplified credit for middle-class families. The Simplified Family Credit also reduces 200 pages of tax forms to a single page with 12 questions.

TAP volunteers have served 1,174 families in the 5th District and have returned over $1.72 million in tax refunds and $1.75 million in financial aid. Emanuel was joined today by constituents of the 5th Congressional District who were part of the program including: Cassandra Bradley, who visited the 5th District office in February and received assistance with her 2003 and 2004 returns, resulting in a total federal refund of over $5,700 and a total EITC refund of over $3,200. Larry Minehart received $1,100 in tax refunds. And Asna Mairaj, a senior from Carl Schurz High School, received financial aid for college; Mairaj ranks second in her high school class and is interested in attending the University of Illinois at Chicago, Loyola University, or the Illinois Institute of Technology for its pharmacology program.

Emanuel was also joined by Bob Burke, Founder and Chairman of the Tax Assistance Program - It Adds Up.

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