To: Graduate Students, Faculty and Academic Appointees
From: David Nirenberg, Executive Vice Provost
Subject: Update on Impact of Tax Proposals
Date: November 20, 2017
I am writing with an update on the tax legislation under consideration in Congress, which has the potential to increase tax burdens on our students, faculty, staff and other members of our University community. The U.S. House of Representatives this week passed a tax proposal that, among other things, might impose a tax on tuition waivers for graduate students, eliminate the tax deduction for student loan interest payments, and tax the value of tuition benefits currently offered by the University to faculty and staff and their spouses and children. The U.S. Senate is considering its own version. While the current Senate bill does not contain the changes referenced above, it does include provisions that would put students and the University community at a disadvantage. For example, like the House proposal, the Senate bill would place an excise tax on certain nonprofit private university endowments, which could seriously affect the University’s budget.
Although we still do not know whether a tax bill will be enacted and, if so, what the final legislation will contain, the University strongly opposes new taxes that target students, or other changes that could impair our ability to make essential investments in our students’ education. The University is working directly with key lawmakers and collaborating with numerous other institutions and associations in opposing these changes, and in vigorously advocating for our students and our community.
We are closely monitoring this rapidly evolving situation, and will provide periodic updates on the legislation at the UChicagoGRAD page, including further provisions that could affect the University community.