A memo from James Harvey, CEO of the National Superintendents Roundtable:
The House GOP unveiled a 429-page tax reform bill late this week that lowered the corporate tax rate from 35 to 20 percent, raised the standard deduction, and sought to keep lost revenue down to $1.5 trillion by eliminating dozens of deductions now available in the existing tax code. Several press accounts document the profound impact these changes will have on students, families, and educational institutions. Here’s what’s on the chopping block:
Existing Tax Code
Deduction for interest on student loans
Eliminate
Deduction for college tuition
Eliminate
Business deduction for employees’ tuition
Eliminate
Coverdell Education Savings Accounts*
Eliminate
Section 529 college savings accounts*
Add K-12 private schools
$250 teacher deduction for supplies
Eliminate
Deduction for state sales taxes**
Eliminate
Deduction for state/local income taxes**
Eliminate
Deduction for property taxes**
Cap at $10,000
* Coverdell Education Savings Accounts are tax-free accounts for middle- and lower-income families to pay up to $2,000 for qualified education costs, including college costs and some private K-12 expenses. Although eliminating this vehicle, the House GOP package simultaneously extends the existing Section 529 college savings program to permit all parents, no matter how wealthy, to set aside up to $10,000 tax-free for K-12 private schools.
** These income sources at the local level are the foundation of school funding. Limitations on these features will make passage of school levies and bonds more difficult, as voters realize their state and local taxes can no longer be used to off-set their federal tax liabilities and that they will be taxed on taxes already paid.
Diane Ravitch's blog 
This tax bill, is a boon to school-choice advocates. see https://www.washingtonpost.com/news/education/wp/2017/11/02/how-the-gop-tax-reform-bill-helps-betsy-devoss-school-choice-agenda/?utm_term=.73f565d34f87
LikeLike
This is interesting:
https://www.dailykos.com/stories/2017/1/11/1619079/-Comparing-Presidential-Administrations-by-Arrests-and-Convictions-A-Warning-for-Trump-Appointees?detail=emailclassic
LikeLike
Didn’t like Obama but he did have class and integrity .
LikeLike
That is if you consider having “class and integrity” to mean ordering the non-adjudicated killings of American citizens.
LikeLike
Duane E Swacker
” Now is not the Time to politicize this ” (Yes I am attempting sarcasm)
LikeLiked by 1 person
🙂
LikeLike
I bet if we went back through all the presidents, we could find words or actions that we find unacceptable and/or repugnant. We have survived all of them. Perhaps we should concentrate on what has allowed our system to survive and what we need to be doing or not doing to move forward. People are never going to agree on everything. We had better concentrate on maintaining a system that allows for give and take. We have not “played together” very well lately.
LikeLike
Lets face it folks this Tax Plan is a pretty good deal for many voters . It lowers the rate and increases the deductions by increasing the standard deduction. Perfectly tailored to older Trump voters in low tax Red States with no dependent children.
Paying the Piper comes later, increased costs for everything these dollars were supporting.,from roads ,to schools, to Medicare. Costs that will far out way the the meager tax reduction . Voters will never put the two together .
LikeLike
The Republicans know they are creating a deficit, but they have bigger goals which include cutting all the social safety nets. When the country is overwhelmed with debt, the Republicans will further cut Social Security, Medicare and Medicaid.https://www.vox.com/policy-and-politics/2017/10/4/16416646/bernie-sanders-gop-budget-medicare
LikeLike
If we got rid of government, we could cut everyone’s taxes. Except the military, of course.
LikeLike
POSTED THIS AT https://www.opednews.com/Quicklink/National-Superintendents-R-in-Best_Web_OpEds-Affective-Politics_Education_Education-Costs_Education-For-All-171106-958.html#comment678485
LikeLike
Each of these has the effect of increasing the taxes collected by the federal government at the expense of either parents, teachers, school districts, and state and local governments. And why does the federal government need additional money from these groups? To provide more tax breaks for shareholders, billionaires, and privatizers. Welcome to the plutocracy.
LikeLike
To provide tax breaks for corporations which already offshore their billions and don’t pay taxes on them.
LikeLike
I wonder if I am living in an alternative universe. Like in Star Trek or something where the ship hits a point in the space time continuum and everything goes awry. Eliminate the $250 deduction on classroom supplies for teacher?? Like that is going to make a difference in a trillion dollars. Are you kidding me? How about just reimbursing me for the stuff I buy? This is just sticking it to teachers. Makes me think I should stand on the street corner and ask for donations for school supplies. This just beats me down even more.
LikeLike
Here is what the White House just put out. It is a load of garbage to give tax breaks to the wealthy and lower taxes on corporations. If corporate bosses don’t pay decent salaries or bring back more jobs now when they are making huge profits, why does anyone believe that tax cuts will bring back jobs. Whatever happened to caring about the deficit? Guess that only occurs when Democrats are in power. Why does cutting funding for Medicare and Medicaid help seniors and the poor?
11:15 AM (5 minutes ago) from the White House:
Saying “No” to a Broken Tax Code
President Donald J. Trump stated, “We believe every-day Americans know better how to spend their own money than the federal bureaucracy, and we want to help them keep as much of that hard-earned money as we can.” Unfortunately, the current tax code hurts American job-creators, families, and businesses. Under President Trump’s tax plan, Americans will be treated fairly, keep more of their hard-earned money, and companies will be incentivized to bring jobs back to the United States.
LikeLike