A bill to amend the Internal Revenue Code of 1954 to allow a taxpayer a deduction from gross income for expenses paid by him for the education of any of his dependents at an institution of higher learning.

Allows a deduction form gross income under the Internal Revenue Code of 1954 for expenses paid by a taxpayer for the education of any of his dependents at an institution of higher learning. Limits such deduction to $1500. (Amends 26 U.S.C. 217)