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Originally Posted by
BulldogDX55
The place where the house bill will harm the University the most is what it will do to Graduate/Doctoral students. It makes it so that the tuition waivers that the students receive in exchange for doing graduate research and teaching classes counts as taxable income. This means that while they might be getting paid (ballpark numbers) $20k/yr plus free tuition, they will now be getting taxed like they're earning $40k/yr while still only receiving $20k in income. This will crush the graduate programs of higher tuition private schools and will ruin the chance of going to grad school without taking on six figures in debt for lower income students.
https://www.nytimes.com/2017/11/16/o...-students.html
https://www.cnbc.com/2017/11/16/hous...0-percent.html
https://www.npr.org/2017/11/14/56387...ssive-tax-hike
Seriously guys, it's a University killer.
Yeah, there is no way I could have afforded to pay taxes on my GA. Tuition, Room, Meal Plan and a small stipend for 2 years was more than my first salary when I finished grad school (warning to parents - History degrees don't pay off instantly).
I don't think Tax Reform will get done anyway. It will blow up in the Senate just like Healthcare.
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Member
If they double the standard deduction, lower the tax rates, this will likely be a wash for a grad assistant/student. Has anyone truly done the math? The net difference is big for all.
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Originally Posted by
TheDawgBiscuit
If they double the standard deduction, lower the tax rates, this will likely be a wash for a grad assistant/student. Has anyone truly done the math? The net difference is big for all.
Yeah. A lot of people. It would be a 300-400% tax increase for grad students. Luckily Senate Republicans have recognized that and are trying to offset that in their bill. Hopefully the House will be ok with that, should it make it to conference.
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Originally Posted by
TheDawgBiscuit
If they double the standard deduction, lower the tax rates, this will likely be a wash for a grad assistant/student. Has anyone truly done the math? The net difference is big for all.
Don't you mean, "Has anyone who worked on this bill done the math?"
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