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. [Republican tax plan seeks to shake up higher-education tax credits, deductions and benefits]In a letter obtained by The Washington Post, the committee provides individual scores of the education provisions in the House bill. But that money would come at the expense of graduate students who under the proposal would be largely shut out of the consolidated tax credit. They also worry that House Republicans are discouraging workforce development by proposing the repeal of an exemption that prevents the federal government from taxing tuition assistance provided by employers. Eliminating that statute would yield $20.6 billion over a decade, which taken with the other three repeals amounts to $71.5 billion.

Source: Washington Post November 16, 2017 20:35 UTC