GOP's tax plan will hurt college students

GOP's tax plan will hurt college students

GOP's tax plan will hurt college students

Clinton said she is personally concerned for the graduate students who will soon matriculate. If the bill becomes law, the waivers would be taxed as if they were salary.

"At a higher tax bracket that means I'm going to lose insurance for my daughter and that's negatively going to affect tax payers, like when we have to go to the hospital for her seizures", says UC Davis grad student Amanda Smith.

Peter Weck, a second year physics PhD student at Hopkins, said that were this tax plan to go through, he would have to seriously consider dropping out of his program.

The $1.5 trillion Tax Cut and Jobs Act passed by the House on November 16 contains several provisions affecting universities and their students - including the requirement that graduate students pay taxes on their tuition waivers.

Right now these working graduate students pay taxes only on their stipend income, not waived tuition fees.

Currently, only our stipend is taxable, so like most low-income Americans, we pay about 12 percent of our income in taxes. Graduate students at UC San Diego, the Scripps Research Institute and San Diego State University help generate the discoveries that keep San Diego in the forefront of innovation. They argue that the plan will cause graduate students to struggle financially and discourage them from getting a higher education.

Any employee of a university, whose children therefore go for free, will now pay taxes on that fine benefit.

"Our livelihoods are being jeopardized by the proposed tax plan", Diego Luis GS told The Herald.

- Repeal the Lifetime Learning Credit, which provides a tax credit for 20 percent of up to $10,000 of educational expenses for post-high school education. "So, of course, some college students and graduate students are going to be upset, but you have to weigh the pros and cons here", Eccarius said. The plan was passed out of committee on Tuesday in a party-line vote, and if procedural votes are successful, the Senate's debate on amendments could begin on Friday.

Currently, the Senate version of the bill does not contain this provision.

I would like to use my remarks to read a statement for the record expressing Indiana University's deep concerns over proposed tax reform legislation that was recently approved by the U.S. House of Representatives and that the U.S. Senate is expected to vote on this week.

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"We're confident if it's not completely preserved, there will be some sort of compromise to where graduate students or other university workers are not footing all of the bill", Davis spokeswoman Ashley Phelps said.

Further, many campus workers would also experience tax hikes over the next decade. O'Shea wrote. "Enactment of those provisions would hurt students and their families and limit access to higher education".

One graduate student writer, writing for Inside Higher Ed, likened it to "taxing a coupon".

Clinton said she is hopeful that the University will acknowledge the current situation and come out in support of students facing the opposed tax changes.

"It could well make the difference between making college possible and making it unaffordable", Chodzko-Zajko said.

Graduate students in attendance said it is already a challenge to make ends meet in the Bay Area.

HOUGHTON, MI- Graduate Student Government at Michigan Technological University is joining a nationwide walkout Wednesday. "That's so that we can do research, we can teach college classes, we can grade papers and mentor students", student Miriam Rubenson said.

Those of us in academia may need to do a better job of explaining why our research is so vital to the health, prosperity, and happiness of our society. "We run this university".

The event was part of a national protest organized by the National Association of Graduate-Professional Students in opposition to the tax plan.

Athletic donations would also be affected.

A well-designed tax system can do more than just raise money. The House bill would eliminate that deduction. "For someone like me, it's impossible to imagine staying at Penn running-up debt or asking somebody at home for extra money".

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