Tax Reform Will Impact Higher Education. What Can You Do About It?
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Tax reform is being debated in Congress now and it may have significant impact on higher education, which will ultimately impact procurement.
Congress is proposing legislation that will have negative consequences for students and families and works squarely against college affordability. Many other higher education associations have mobilized against the proposed legislation that we believe will increase costs and regulatory burden.
NACUBO developed this guide which includes background information and talking points on issues of NACUBO’s top concern.
There are several ways to take action:
The first is to write letters using these links. You can weigh-in on the following:
· Repeal of Lifetime Learning Credit (LLC) and Student Loan Interest Deduction (SLID) for current students and graduates, and the loss of Sec. 117 (d)(5) for graduate students
· Repeal of Sec. 117 (d) and Sec. 127
· Tax-exempt bond financing
· Excise tax on endowments
The links above connect to the American Council on Education’s site for ready-to-send letters to US Representatives and US Senators based on the zip code you enter.
The second way is to text ACTNOW to 52886 to join the movement to #protectgiving and ask lawmakers to fix the provisions that create new taxes that will raise operating costs or badly hurt the ability of nonprofits to educate, heal, nourish, and serve our nation.
Please work with your campus government relations staff to share this campaign widely with your stakeholder networks.
If you have questions, you may contact the NACUBO federal affairs team with your concerns and questions. Stay informed by visiting the NACUBO tax reform webpage for resources on both the House and Senate tax bills.
NOW is the time to voice your concerns, NOW is the time to be heard.
