CONTENTS
BUDGET, APPROPRIATIONS, AND TAX ISSUES
- Senate Finance Committee Approves Tax Extender Package
CONGRESSIONAL ISSUES
- Senate Panel Examines Innovation in Higher Education
OTHER
- COSSA Asks Campuses to Share Social Science Stories
BUDGET, APPROPRIATIONS, AND TAX ISSUES
SENATE FINANCE COMMITTEE APPROVES TAX EXTENDER PACKAGE
The Senate Finance Committee on July 21 approved a tax-extender bill that includes an extension through December 31, 2016, of two provisions of importance to higher education: the above-the-line tax deduction for qualified tuition and related expenses and the Individual Retirement Account (IRA) Charitable Rollover. Both provisions expired last December. The legislation was approved by a vote of 23 to 3.
A group of 14 higher education associations, including AAU, sent a letter to Finance Committee members on July 17 urging them to extend the two higher education provisions.
The two-year extension of the tuition deduction would restore a valuable benefit to students and their families and is particularly helpful to graduate students, who are not eligible for the American Opportunity Tax Credit. The two-year extension of the IRA Charitable Rollover would give charitable organizations, including colleges and universities, some predictability and a longer window of time to use this charitable giving incentive to raise new or increased contributions.
In his opening statement at the markup, Committee Chairman Orrin Hatch (R-UT) said the Committee should work to make a number of the extended provisions permanent, but he would defer negotiating the issue of permanence to ensure the markup ran smoothly.
In the House, Ways and Means Committee staffers indicate that the panel does not plan to address extenders on a stand-alone basis until later this year. At the moment, House leaders are focused on determining whether or not they can include an “international-only” tax reform package in an extension of the highway trust fund. If this effort comes together, the House is likely to add extenders to the package. If this effort does not yield results after the August recess, however, the House is likely to consider the tax extenders as a stand-alone package.
CONGRESSIONAL ISSUES
SENATE PANEL EXAMINES INNOVATION IN HIGHER EDUCATION
The Senate Health, Education, Labor and Pensions (HELP) Committee on July 22 held a hearing to discuss barriers to, and opportunities for, innovation in higher education.
The focus was on how the federal government might provide incentives for innovation without jeopardizing program quality. The session was one of several the Committee has scheduled to inform its reauthorization of the Higher Education Act.
In his opening remarks, Committee Chairman Lamar Alexander (R-TN) said Congress needed to help colleges and universities meet the needs of a growing student population by providing institutions greater flexibility to innovate. Innovations could include competency-based learning models and non-traditional higher education providers, along with a reduction in federal higher education regulations.
Committee Ranking Member Patty Murray (D-WA) said in her opening remarks that Congress should tread carefully to ensure that any changes in the law benefit students and that alternatives to traditional higher education are not given access to federal student aid funds without accountability.
OTHER
COSSA ASKS CAMPUSES TO SHARE SOCIAL SCIENCE STORIES
The Consortium of Social Science Associations (COSSA) has launched a campaign to highlight the value of federally funded social and behavioral sciences research by sharing success stories.
Campuses are asked to submit stories about social and behavioral research that has advanced science, led to important products or therapies, or resulted in important applications in health, national security, or the economy.