The purpose of the proposed changes contained in dueling GOP tax plans is aimed solely at finding revenue sources from higher ed in order to offset huge tax deductions given to wealthy families and corporations
The GOP’s tax rewrite hits higher education hard, but new legislation House Republicans are crafting will likely go even farther to worsen the damage.
As The Wall Street Journal reports, the House education committee recently gave a preview to its new legislation, a long overdue reauthorization of the Higher Education Act (HEA). Like recent tax bills passed by the GOP-controlled House and Senate, this proposed rewrite of HEA will have the effect of further constricting learning opportunities for students, adding to the costs students and families take on for education, and steering more public money for learning to private businesses.
Days after the House and Senate passed their tax bills and the Journal broke its story about new legislation being drafted in the House, Moody’s Investor Services, the esteemed bond rating firm, announced it was “revising the 2018 outlook for US higher education to negative from stable.” Among the rationales Moody’s gave for its decision was “looming changes in federal policy or funding.”