NEA Releases Analysis of House Tax Bill
Today the National Education Association (NEA) released an analysis of the U.S. House tax reform bill, H.R. 1, the “Tax Cuts and Jobs Act,” to project the impact on PK-12 education of the elimination of the State and Local Tax (SALT) deduction for individuals (the tax plan permits corporations to keep this deduction).
In a press release, the NEA highlighted the potential effect of this single elimination: “The impact of eliminating SALT on public education is nearly equal to the education jobs lost during the Great Recession. By most accounts, the country lost about 300,000 education jobs during that time.”
For more information on how the loss of this one deduction could impact your state, see the NEA analysis.
For more information on the bill’s impact on higher education, see the website of the American Council on Education.
You can also view my recent blog for related resources.