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The AAUP, along with other higher education groups, strongly opposes proposed tax legislation that would hurt higher education.
The tax bill passed by the House of Representatives threatens to devastate graduate education by reclassifying tuition waivers as taxable income--a move that, if it becomes law, would result in an untenable financial burden for many graduate students. It would also repeal the current Student Loan Interest Deduction, which would result in an increased cost of roughly $24 billion to student borrowers over the next decade. The Senate is pushing to pass its version of a tax plan, possibly as soon as this week.
You can help stop these provisions from becoming law. Please do these three things today to protect graduate education:
Once the bill passes the Senate, the two chambers will then need to resolve any differences and pass a final bill before year's end. Most provisions of the bill, if passed this year, are scheduled to take effect January 1.
Background Information:
House Passes GOP Tax Plan. Inside Higher Ed.
The House Just Voted to Bankrupt Graduate Students. New York Times.
A Tax-Cut Bill to Make Scrooge McDuck Proud. New York Times.