FB Posts


The plan would impose a 1.4 percent excise tax on college endowments at private universities….double the standard individual tax deduction, meaning much weaker incentives for charitable contributions to colleges….end student loan interest rate deductions….restructures the American Opportunity Tax Credit, eliminating tax benefits for students who take more than five years to graduate….repeals the Lifetime Learning Credit, which is used by grad students, workers who need retraining and part-time students and nontraditional undergrads who take more than four years to graduate.

….The legislation would kill another provision that is deeply important to college faculty members and administrators personally: Section 117(d) of the tax code allows employees of nonprofit universities and colleges to exclude from taxable income qualified undergraduate tuition reductions they, or their dependents, receive….Yet another provision targeted by Republicans would end a tax break for employers who cover up to several thousand dollars in educational costs for their workers.
The proposal would also eliminate a provision of the tax code used by many universities to waive the cost of tuition for graduate students filling positions like teaching assistantships. If the proposal were to go through, those institutions wouldn’t be able to waive tuition costs without imposing new taxable income on grad students, said Steven Bloom, director of government relations at the American Council on Education.

Republicans are laser-targeting enemies in their tax bill



Source

Leave a Reply

Your email address will not be published. Required fields are marked *

Post comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.