December 19, 2017
The Republican-drafted tax reform bill, headed for votes in both chambers of Congress this week, does not contain several earlier proposals that would have adversely affected graduate students. But a tax on some large private college endowments made it into the final version of the legislation (H.R. 1). Additionally, the 505-page bill sharply cuts business taxes while also halving a tax break intended to encourage development of drugs for rare diseases.