A bill to amend the Internal Revenue Code of 1954 to allow individuals a credit against income tax for expenses paid by a taxpayer in connection with his education or the education of his spouse or any of his dependents at certain educational institutions.

Amends the Internal Revenue Code to allow as a credit against income tax a limited amount of specified higher education expenses, including tuition, fees, books, supplies and room and board, incurred by a taxpayer for himself or for his spouse or dependents.