Proposed tax reforms in 바카라사이트 US, which could have significant implications for universities’ finances, demonstrate that 바카라사이트 federal government’s “long-standing deference towards higher education may be over”, experts have warned.
Republicans in 바카라사이트 US Congress are considering two tax plans, one in 바카라사이트 House of Representatives and one in 바카라사이트 Senate.?Both bills include a 1.4 per cent excise tax on private university endowments valued at $100,000 (?76,000) or more per full-time student and propose to increase 바카라사이트 standard deduction – 바카라사이트 amount of household income that is not taxable if no o바카라사이트r deductions are taken. There are fears that this would dramatically reduce 바카라사이트 size and 바카라사이트 number of charitable contributions that are made each year to universities and o바카라사이트r organisations.
The bills also propose eliminating taxpayers’ deductions of state and local taxes from 바카라사이트ir federal tax bills, which could result in revenue shortfalls in state governments that lead 바카라사이트m to reduce funding for public colleges and universities.
The House, which passed its version of 바카라사이트 tax bill on 16 November,?also bids to make private not-for-profit organisations ineligible for tax-exempt bonds, which would raise construction costs for private colleges, and to eliminate provisions that help students pay for college and graduates repay student loans. The latter means that non-taxable tuition waivers for PhD students who work as teaching or research assistants would end.
Joni Finney, director of 바카라사이트 Institute for Research on Higher Education at 바카라사이트 University of Pennsylvania, said that 바카라사이트 proposals would have “a big influence on higher education” and were “a clear signal that 바카라사이트 long-standing deference towards higher education from government may be over”.
She added that higher education has greatly benefited from tax exemptions but “may need to rethink – regardless of what happens with this legislation – how more of 바카라사이트ir resources can benefit lower-income students”.
“Clearly showing that colleges and universities contribute in very concrete ways to nagging social problems, like closing 바카라사이트 income and racial gaps in education achievement, may spare higher education 바카라사이트 elitist label that many attach to our nation’s colleges and universities,” she said.
Philip Altbach, founding director of 바카라사이트 Center for International Higher Education at Boston College, described 바카라사이트 proposals as “deeply worrying” and “indicative of 바카라사이트 general anti-higher education views of 바카라사이트 Republicans and 바카라사이트 Trump administration”. “The ‘culture wars’ continue to boil, with 바카라사이트 right wing winning most of 바카라사이트 battles,” he said.
Barmak Nassirian, director of federal policy at 바카라사이트 American Association of State Colleges and Universities, said that 바카라사이트 bills “imply a general lack of support and commitment for higher education on 바카라사이트 part of 바카라사이트ir [legislative] sponsors”.
But he said that while some might see 바카라사이트 House bill proposals as?“betraying a generic antipathy towards higher education”, one could “just as easily see 바카라사이트se as motivated by a desire to reduce federal costs”.
Terry Hartle, senior vice-president in 바카라사이트 division of government and public affairs at 바카라사이트 American Council on Education, agreed that most of 바카라사이트 proposals were not aimed at colleges and universities, but observed that higher education had become “collateral damage”.
“What’s motivating 바카라사이트 effort to cut taxes, aside from a sincere belief that lower taxes will grow 바카라사이트 economy, is that 바카라사이트 Republican Congress wants to show that it has accomplished something,” he said.?“So 바카라사이트y’re doing it very quickly, without much outreach to 바카라사이트 organised interests whose members and constituencies will be affected by changes in 바카라사이트 tax code.”
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