Tax Reform & Higher Education
Tax reform law passed under Section 4968 of P.L. 115-97, the Tax Cuts and Jobs Act, has significant implications for Smith College, as well as students and families nationwide, adversely affecting higher education access and affordability. The provision of the Act imposing a tax on the income of educational endowments significantly affects students at colleges like Smith, whose missions are supported by endowment income and whose students come from families spanning the income spectrum.
Resources
- Contact Your Elected Officials
- American Council on Education: Tax Reform and Higher Education
- ACE, Higher Education Community Launch Contact Congress Initiative for Tax Bill
- National Association of Independent Colleges and Universities: Tax Plan News Roundup
- Council for Advancement and Support of Education: Tax Reform Resources
- PricewaterhouseCoopers: Colleges and Universities Impacted by House Tax Reform Plan
- Wall Street Journal: Should the Well Endowed College Be Taxed? (subscription required)
- Daily Hampshire Gazette, January 16, 2018: Impact of Tax Plan on Liberal Arts Colleges (letter to the editor)
- President Kathleen McCartney: Impact of Proposed Tax Bill on Smith and Higher Education, November 8, 2017