University Officials Relieved, Cautious After Tax Bill Passes
University of Illinois President Tim Killeen is pleased the Republican tax reform bill protects graduate education. But, he cautions it could harm higher education in other areas.
In an email to U of I employees, Killeen said he is glad Congress kept the tuition tax benefit in place for graduate students. If grad students get their tuition waived as part of their research and teaching work, they will not have to report that waiver as income.
But, Killeen warned that other provisions in the tax bill will increase costs for universities. And, he noted that it may be more difficult to raise private donations, which he calls "critical" to higher education.
The House of Representatives approved the final bill 224-201 after the Senate passed a slightly amended measure early Wednesday morning.
Links
- Senate Approves Landmark Tax Overhaul, Bill Returns To House
- House Republicans Pass Tax Overhaul; Senate Could Vote Tuesday Night
- CHARTS: See How Much Of GOP Tax Cuts Will Go To The Middle Class
- CHART: How The New Version Of The Republican Tax Bill Would Affect You
- 13th Congressional District Democratic Candidates Oppose GOP Tax Plan
- Teachers Want To Keep Classroom Supplies Tax Deduction
- Congressman Shimkus A Member Of The Committee Negotiating Final Version Of Tax Bill