U.S. House and Senate Tax Proposals



A Letter from University President William P. Leahy, S.J.



December 8, 2017

Dear Members of the Boston College Community:

In the last several weeks, both the U.S. House of Representatives and the Senate have passed tax bills that, if enacted into law, would have exceedingly negative consequences for college students, their families, and private colleges and universities in our country. Like many committed to private higher education, I believe that numerous parts of this proposed legislation will result in increased costs as well as reduced access to higher education for talented and deserving students.

I am writing to ask that you phone or email members of Congress (for contact information, see the directories for the U.S. House and Senate) in the next few days and urge them to ensure that the final bill, now under consideration by a conference committee, includes the following provisions:

  • Continues allowing deduction of interest paid on student loans;
  • Keeps current tax-free educational benefits for employees, their spouses and children, and graduate students;
  • Retains issuance of tax-free bonds by private educational institutions for renovation and construction projects;
  • Rejects imposing excise taxes on the endowments of private colleges and universities.
     

Private higher education makes invaluable contributions not only to our society and economy but also to people and nations around the world. Federal tax policy should assist educational institutions in their mission, and I hope that members of the House and Senate will enact legislation that helps meet the needs of students and families, and that provides resources necessary for American colleges and universities to maintain their preeminent place in global education.

Sincerely,

WPL-Signature-desktop-color

William P. Leahy, S.J.
President