S.1727: A bill to amend the Internal Revenue Code of 1986 to provide for a credit against income tax for certain educator expenses, and for other purposes.

Teacher Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow elementary and secondary school (K-12) teachers a tax credit for 50% of their education expenses (books, supplies, computer equipment, and supplementary materials) and their professional development expenses up to $300 in any taxable year.