A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax to individuals for certain expenses incurred in higher education.

Amends the Internal Revenue Code to allow an income tax credit for certain expenses paid for the higher and vocational education of the taxpayer or for another individual. Limits the amount of such income tax credit. Reduces the amount of such credit by one percent of the amount by which the adjusted gross income of the taxpayer exceeds $22,500.