- elimination of several student-centered provisions, such as employer-provided educational assistance and the student loan interest deduction;
- elimination of access to the tax-exempt bonds that provide discounted financing for our classrooms, research labs, and patient care facilities; and an
- excise tax on some nonprofit private university endowments.
Uncategorized
Proposed Tax Bills Increase Cost of College and Taxes Private Universities
To: The University Community
From: Joel Seligman
As you may know, House Republicans released their comprehensive tax reform bill and the Senate Republicans released their version of a tax bill last week. Both of these bills would adversely impact higher education in a number of important ways.
The University supports tax reform that promotes economic growth, fosters a well-educated, productive workforce, and preserves strong incentives for charitable giving. These are critical to our nation’s prosperity and global competitiveness. However, the proposed legislation would eliminate or consolidate a number of tax deductions and provisions that offset the costs of higher education for students and their families, impact charitable giving, and increase costs for colleges and universities. These include: