An Update on Congressional Tax Reform Legislation
Dear Members of the Georgetown University Community:
Over the course of the past month, Georgetown has been closely following the development of tax reform legislation and possible adverse impacts on our community and higher education across our nation. Late last week, a tax reform bill was passed by the House of Representatives, and the full Senate is expected to begin debate on its bill during the week of November 27. If the Senate bill is passed, the Senate and House will need to agree on a final version before sending it to the President for signature into law.
There are key differences between the House and Senate bills, and we strongly object to any provisions that limit our ability to support our mission of education and research or that inhibit access and affordability. We are particularly concerned about several provisions that reduce the affordability of higher education, including those that remove the tax-exempt status of tuition benefits offered to employees and graduate students, and those that prevent borrowers from deducting interest paid on student loans.
We have expressed our objections to members of Congress and are working with other institutions of higher education, including the American Council on Education (ACE), to continue to communicate our concerns across Capitol Hill.
Information about the legislation can be found on the ACE Tax Reform and Higher Education (new window)web page. Additional information of relevance to graduate students can be found on the Tax Reform Resources (new window) page of the Council of Graduate Schools. Since the legislative process is evolving, I encourage you to stay informed of the latest developments through these resources.
If you wish to share your views with your members of the House and Senate, resources are available for students and families here (new window), and staff members and employees here (new window). Should you have additional questions on tax reform or how you can better communicate with members of Congress, please contact Scott Fleming, our Associate Vice President for Federal Relations, at Scott.Fleming@georgetown.edu.
We will continue to advocate on behalf of our community for legislation that strengthens our mission as a University and our community’s pursuit of research and education in support of the common good.
You and your families and friends have my very best wishes for a wonderful Thanksgiving holiday.
John J. DeGioia