The repeal and revision of higher-education tax benefits in the bill passed Thursday by the House would cost students and families more than $71 billion over the next decade, according to an official analysis by Congress's Joint Committee on Taxation.
In a letter obtained by The Washington Post, the committee provides individual scores of the education provisions in the House bill. Those that directly benefit current students, borrowers and employees seeking college credentials amount to tens of billions of dollars in revenue for the government, but lost savings for taxpayers. The committee tallied the costs at the request of Sen. Patty Murray (Wash.), the ranking Democrat on the Senate Health, Education, Labor and Pensions Committee.
"At a time when higher education costs are skyrocketing, it is extremely disappointing Republicans are trying to jam through a plan that will take money from students and families who are trying to send their kids to college — all to pay for a massive tax cut for corporations and the richest among us," Murray said. "Republicans need to stop playing partisan games with our students’ education, and start working with us to provide more opportunities for all."
Read more at The Washington Post: https://www.washingtonpost.com/news/grade-point/wp/2017/11/16/government-analysis-shows-house-tax-bill-would-increase-the-cost-of-college-by-71-billion-over-a-decade/