Last week, republican lawmakers introduced the Tax Cuts and Jobs Act bill. This bill would tax grad students on any tuition waived in addition to the annual stipend.
Lawmakers are hoping to vote on this bill by Thanksgiving 2017 and if passed by the end of the year, the proposed bill would take effect beginning in the 2018-2019 academic year.
Immediate action on our part is a must! Please see the link below on ways to voice opposition to this bill.
Updated useful links to automatically contact all of your representatives:
The Contact Congress buttons are live on www.acenet.edu/taxreform. There are four letters, one for each bucket:
- Charitable Giving and Endowments: the draft letter focuses on the proposed excise tax on endowments at certain private colleges and universities (https://www2.acenet.edu/actioncenter/?vvsrc=%2fcampaigns%2f55194%2frespond)
- Students and Families: the draft letter focuses on the repeal of LLC and SLID for current students and graduates, and the loss of Sec. 117 (d)(5) for graduate students (this is the provision that taxes PhD students on their tuition remission) (https://www2.acenet.edu/actioncenter/?vvsrc=%2fcampaigns%2f55189%2frespond)
- Campus Employees: the draft letter focuses on the repeal of Sec. 117 (d) and Sec. 127 for campus employees (https://www2.acenet.edu/actioncenter/?vvsrc=%2fcampaigns%2f55192%2frespond)
- Higher Ed Finance: the draft letter focuses on the loss of tax exempt bonds in H.R. 1 (http://www.acenet.edu/Pages/Higher-Education-and-Tax-Reform.aspx#tabContent-7)
Also, you can check out the page (www.acenet.edu/taxreform) that has information on what is included in H.R. 1.