"Federal tax legislation that was passed on Wednesday by the House of Representatives does not include an extension of the college-tuition deduction or other provisions of interest to higher education. Congressional Republicans have promised that the tax bill, which is projected to cost $69-billion over 10 years, will be followed by a second, "trailer" bill that will include the popular tuition credit. That and many other items were bumped so that the original bill would not cost the federal government more than $70-billion in tax revenue.
Senate Democrats blasted the tax bill, arguing that the tuition deduction had been axed to make room for tax breaks for oil companies. Republicans denied the charge. The timing and likelihood of the second bill remain unclear. If it is introduced, it may also contain an extension, perhaps of one year, for corporate grants and contributions to basic university research. Other likely provisions include efforts to crack down on abuse by charities, and those new rules, if adopted, could affect university foundations. "
Source: Chronicle of Higher Education
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