The U.S. Senate will vote next week on a proposed tax overhaul that, as with the passed House plan, includes legislation that could harm independent schools and other tax-exempt organizations in areas such as tuition remission, charitable giving, housing benefits, tax-exempt bonds and financing. Together, NBOA and NAIS are urging schools to voice their concerns to Republican senators before the vote and before the combined House and Senate bill comes to the floor in December, should the Senate bill pass. The NAIS Advocacy Center enables any independent school, regardless of NAIS membership, to contact its congressional representatives about the issue. NAIS has also provided talking points about the bills, available only to NAIS members.
While the Senate Finance Committee approved the Senate bill on November 16 on a party-line vote, some Senate leaders continue to express skepticism about the inclusion of the repeal of the Affordable Care Act's individual mandate in the tax plan. More changes are likely if the bill is debated by the full legislative body.
For further questions or comments, NBOA members are encouraged to contact Jennifer Osland Hillen, NBOA's interim director, professional development, and director, accounting and tax programs, at jennifer.hillen@nboa.org.
