Education Tax Credits:
The American Opportunity Education Tax Credit, which is a $2,500 tax credit for tuition costs for four years of post high school education, can be claimed in 2013 through 2017.
Also, the Higher Education Tuition Deduction, which allows people to deduct between $2,000 and $4,000 of qualified tuition costs is retroactively restored for 2012 and is extended through 2013. It is our understanding the Obama administration will seek to extend the education tuition tax credits into the future. At this point in time the specific number of years is under discussion.
According to Bloomberg, the debt ceiling debacle last summer almost led to derailing the economic recovery. In this article, they know a similar path could even have a more devastating impact on the economy. Bloomberg