University President Rev. William P. Leahy, S.J., sent a letter to the Boston College community Friday condemning the tax bills passed in both the U.S. House of Representatives and the Senate in past weeks.
He wrote to the community to ask students and faculty to call or email members of Congress within the next few days to urge them to include provisions, which would lessen the impact of the new tax bills on BC.
Read the provisions below:
- “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,” Leahy said. “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.”
Featured Image via Heights Archives