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House G.O.P. Tax Writers Take Aim at College Tuition Benefits

2017-11-18 1 Dailymotion

House G.O.P. Tax Writers Take Aim at College Tuition Benefits<br />The sprawling House tax bill, set for a vote on Thursday, would tax the value of college tuition benefits conferred on thousands of university employees like Mr. Vautour, one of several provisions<br />that would hit colleges, universities and their students, hard.<br />In addition to campus employees, many doctoral students would see huge tax increases, since the tuition<br />that universities waive for them in exchange for working on campus as researchers and teaching assistants would be deemed taxable income.<br />And if students take out more loans to pay their new taxes, they would face another surprise: Under the House bill, interest paid on student loans — a deduction<br />that more than 12 million people used in 2015 — would no longer be tax deductible.<br />By increasing household income, the bill overall would “provide more Americans with more opportunities of their choosing,<br />including continuing education,” said a spokesman for the House Committee on Education and the Workforce.

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