Daniel S. Katz: How the GOP Tax Plan Will Damage Education

Diane Ravitch's blog

Daniel Katz reviews the many ways in which the tax plan now being debated and being pushed to an early vote without hearings will have deleterious effects on students in higher education and in K-12.

He writes:

“A great deal of ink has been spilled on how the Republican tax bill working through Congress would impact higher education for the worse. The highest profile item is the plan in the House bill to tax graduate student tuition waivers as income, effectively making the young people who are helping the nation move forward with critical research pay taxes on “incomes” that are tens of thousands of dollars higher than they actually get paid. However, higher education takes multiple hits in the House bill such as taxing endowment earnings that go towards school advancement, reducing incentives for charitable giving, and eliminating student loan interest deductions that benefited 12 million borrowers in 2014.

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