AASCU Statement on House GOP Tax Reform Proposal
Additional resources from a coalition convened by the American Council on Education, including tools to help you contact Congress about how
H.R. 1 affects charitable giving and endowments; students and families; campus employees; and higher education finance is available at
ACE website .
Resources on the Impact of the Elimination of the State and Local Tax Deduction (SALT)
Unlike the House bill, the Senate proposal would not consolidate the current higher education tax credits nor would it repeal the exclusion of income resulting from the discharge of student debt in cases of death or total disability, the deduction for interest paid on student loans, the deduction for
tuition and related expenses, the exclusion of interest from savings bonds used to pay education expenses, the exclusion of tuition reductions or the exclusion of employer-provided education assistance.