A bill to amend the Internal Revenue Code of 1954 to allow a deduction for income tax purposes of certain expenses incurred by the taxpayer for the education of a dependent.

Allows an income tax deduction under the Internal Revenue Code for amounts paid by an individual during the taxable year for the education of a dependent attending any primary, secondary, or higher educational institution.

Provides that such amounts may include costs of tuition, books, transportation, and food and lodging. Prohibits deductions for food and lodging from being greater than the minimum amount charged for such services at such institution. Provides that, in the event such institution does not provide such services, the deduction for food and lodging shall not exceed $400 for each calendar year nor more than $200 for each school semester during which the dependent is in actual attendance at such institution. (Amends 26 U.S.C. 218)