Massachusetts could soon join 34 other states that allow families to take a deduction on their income taxes for money put into a college savings account as lawmakers appear poised to break from their reluctance to consider tax policy changes.

In addition to endorsements from two joint House-Senate committees, the college savings tax deduction has now been included by two House committees in a version of Governor Charlie Baker’s economic development bill that will hit the House floor for debate and a vote on Thursday.

The deduction has been recommended by joint committees that examine revenue and economic development matters, as well as the powerful House Ways and Means Committee, and Baker has voiced support for the concept.

It is also the second measure moving in the final weeks of the Legislature’s formal sessions intended to help families plan for and afford college tuition. The annual state budget Baker is currently reviewing includes a $350,000 pilot program that would provide a state match of up to $500 per family for every dollar put into a college savings account by a low-income family in select cities across the state.

The proposal in the economic development bill, which was released by the House Ways and Means Committee Tuesday morning with a favorable recommendation, would allow individuals to take a $1,000 tax deduction on contributions into a college savings program, sometimes known as 529 plans. Married couples would be able to deduct $2,000 from their taxable income.

At a time when tax collection estimates have diminished, forcing lawmakers and the administration to pare back state spending, the estimated $8.2 million cost to the state from offering the tax deductions would be almost fully offset by restricting existing tax breaks for college tuition payments to full-time Massachusetts residents only.

The change, according to supporters, would save an estimated $7 million, or about 13 percent of the $54.2 million in deductions taken in connection with college tuition payments in fiscal 2016.

Supporters of the new tax break have said all but eight of the 42 states that have an income tax allow families and individuals to take a tax deduction on savings for college.