Dear Duke Colleagues,
You may have heard that the tax plan currently being developed in Congress includes a number of controversial proposals targeting higher education. Duke strongly opposes these provisions, which include:
- Eliminating the deduction for interest in student loans
- Making graduate student tuition waivers count as taxable income
- Initiating an excise tax on university endowments that will reduce the amount of funding available for student assistance and faculty chairs
- Eliminating tax exemption for tuition assistance for employees and dependents
- Eliminating tax-exempt financing for construction projects
- Eliminating deductions for certain contributions to athletics programs
We believe these provisions directly threaten Duke students, employees, and their families. That's why we are working closely with other universities, national organizations and members of Congress to refocus the tax reform debate on simplification and incentives for education and research. This effort is being led by the university’s Office of Public Affairs and Government Relations; you can learn more at http://www.acenet.edu/Pages/Higher-Education-and-Tax-Reform.aspx.
As Congress debates changes to the tax reform legislation, Duke will be working to protect our students, faculty, and staff, and the invaluable work that you do on our campus. We are thankful for your contribution to the university community, and we will continue to fight against legislative proposals that threaten our collective mission of knowledge in service to society.
Vincent E. Price