President Barack Obama’s proposed budget for fiscal year 2013 sets a responsible course for rebuilding the economy so that it works for everyone. not just the privileged few.
President Obama’s budget maintains the recent increases through the 2014- 2015 award year. And for them and their parents, the president is proposing to make permanent the American Opportunity Tax Credit, a partially refunded credit that’s worth up to $10,000 per student over four years of college.
At the primary and secondary school level, the president’s budget also invests money into grant programs that will help improve teacher programs at minority-serving institutions. Given the current lack of teacher diversity as noted in a recent Center for American Progress paper, this is a well-timed program. This budget also delivers in the housing sector. The president put forth $19.1 billion to help extremely low to low-income families with rental assistance.
Proposals for youth jobs include a $12.5 billion Pathways Back to Work Fund and a Workforce Innovation Fund aimed at incentivizing states to either come up with new ideas or replicate proven strategies for delivering better employment results.