Congressman Joe Morelle on Thursday unveiled the “College for All Act,” a sweeping initiative to make public education more affordable throughout the country.
The proposed legislation, introduced in an address at the Rochester Educational Opportunity Center, would eliminate tuition at public colleges and trade schools for families earning less than $125,000 per year.
Furthermore, it will make community college tuition and fees free for everyone if passed. The maximum limit for Pell Grants will also double from $6,500 to just under $13,000.
Chasing the American Dream
“For too many Americans, the dream of pursuing higher education continues to remain out of reach, and that has certainly been the case with rising tuition costs,” Morrelle said. “Expensive loans often stand in the way of students on the way to obtaining their degree and prevent them from reaching their full potential.”
The congressman believes the “College for All Act” will provide everyone with a fair chance at college education and ensure “students carry with them a lifetime of knowledge and not a lifetime of debt.”
Funding will be raised through Wall Street speculation taxes — essentially, a tax on stock, bond, and derivative trades on US financial markets. Over the next decade, these taxes could raise as much as $2.4 trillion, which would go toward funding the education of college students.