Proposed Tax Legislation
MICHAEL K. YOUNG
November 16, 2017
Texas A&M University Community,
For several weeks, Texas A&M has engaged with members of Congress and their staff regarding the effects of the proposed tax legislation. As you may have read, there are many moving parts to current tax reform efforts, and the policy and politics are changing daily. Please know that we are monitoring changes in the legislation and engaging directly in this ever-changing environment on issues that relate to our students and goals of the university.
There are certain provisions in the House bill, H.R. 1, the Tax Cuts and Jobs Act that affect some students, including the repeal of certain tax provisions favoring students. I know there is concern particularly within our graduate student population regarding these changes. There are many components to the legislation. We have made it clear to our representatives that the elimination of provisions in the law that students utilize to help support their education will have negative consequences for our economy and vitality of the state and nation.
The Senate version does not contain some of the provisions affecting students in the House version, but does contain policy changes that would limit Texas A&M's ability to provide the resources needed for academic support. Other items of concern include charitable giving provisions and licensing royalties, the net reduction of which would lessen investment in student activities and campus services that the revenue supports.
For those who want to know more about the legislation, the National Association of College and University Business Officers (NACUBO) has issued a helpful primer on the subject.
We are actively working with higher education associations (e.g., Association of Public Land-grant Universities, Association of American Universities, American Council on Education) to explain to Members of Congress the effects of the proposed legislation on our university, students and families. We continue to monitor this fluid situation and engage on behalf of our faculty, staff, and students.
Michael K. Young