McCollum Opposes House Republicans’ Tax Attacks on College Students and Their Families
Congresswoman Betty McCollum (DFL-Minn.) today urged her colleagues to oppose House Republicans’ tax bill that makes higher education more expensive for students and working families in Minnesota and across the United States. According to their own estimates, House Republicans’ bill will increase the cost of higher education to American students and their families by at least $65 billion over the next 10 years.
“I hear every day from Minnesota families who are already struggling to pay the cost of college and job training. Unbelievably, my Republican colleagues now want to make it even harder to afford higher education,” Congresswoman McCollum said. “Minnesotans should be outraged by this terrible proposal, especially because the higher costs forced on students and families are being used to give tax cuts to big corporations and billionaires.”
House Republicans’ bill ends the student loan interest deduction, adding to the costs that students face in paying their student loans. It also dramatically hikes taxes on graduate students, eliminates incentives for companies to offer tuition assistance to their workers, and increases costs for nontraditional students by ending the Lifetime Learning Tax Credit.
Colleges and universities across the country have joined Congresswoman McCollum and House Democrats opposing these damaging provisions. In a letter to Congresswoman McCollum yesterday, the Minnesota Private College Council strongly opposed the Republican bill’s higher education-related provisions.
“We ask you to oppose this tax bill in its present form and work to shape a tax bill that protects the investments the federal government makes in students, families, and higher education institutions through the federal tax code,” the letter said.