Top photo caption: Students in Our Lady of Good Counsel School, Moorestown, smile on the first day of school. Mike Ehrmann photo.
WASHINGTON – Yesterday, the U.S. Department of the Treasury released proposed regulations to implement the Federal Scholarship Tax Credit (FSTC), which provides a nonrefundable Federal tax credit for contributions to scholarship granting organizations. States must formally elect to opt-in to the program in order for the children in that state to be eligible for scholarships funded by the program.
In a brief message, Bishop David M. O’Connell, C.M., chairman of the U.S. Conference of Catholic Bishops’ Committee on Catholic Education, called the scholarship program a transformative opportunity for children across the country:
“The Catholic Church teaches that parents are the first and primary educators of our children, and that parents have the obligation of educating their children in the manner best suited for their development and needs. The Federal Scholarship Tax Credit will create opportunities for families to access much-needed resources to expand their options for choosing the best tools and learning environment for their children. I applaud all the hard work of the advocates for this law, the legislators themselves, and officials of the Department of Treasury who worked diligently on the proposed regulations for implementing the FSTC so it can be a transformative opportunity for children across the country in both public and non-public school settings.”