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News & Media

APLU In The News: November 8, 2017

November 8, 2017
Buried in the details of the 400-page tax-reform plan unveiled on Thursday by House Republicans is a proposal that, if enacted, would leave many graduate students wondering if they could afford to continue their studies. Under current law, college employees are allowed to get a break on tuition without counting that break as taxable income. Graduate students who work as research or teaching assistants are among the chief beneficiaries of that policy.
November 8, 2017
Missouri’s ability to pay its bills could be dependent on what Congress includes in a tax cut plan. One proposed change would almost double the standard deduction, used by 71 percent of Missouri taxpayers on their federal and state returns. Missourians used it to reduce taxable income by $17.1 billion in 2015 and the deduction is slated to grow by 90 percent under the plan proposed last week. “It is obvious that this is a ginormous revenue loser for the state,” said Tom Kruckmeyer, chief economist for the Missouri Budget Project.