“The power to tax is the power to destroy,” said the fourth Chief Justice of the United States, John Marshall. When one looks at the new tax code produced by the U.S. Congress, we can see how this quote rings a bell of authenticity when it comes to higher education.
Since the latest changes in the U.S. tax code were first proposed, it was clear that higher education was going to be one of the targets of Republicans in Congress. The overall objectives of these changes were to get the money needed to pay for huge tax cuts to benefit the financial base of their party – corporations and the wealthiest people in the country. Republicans in Congress want to make these cuts despite the fact that the new code would add about $1.5 trillion to the national debt over the next 10 years.
Romero, Aldemaro Jr., "The new tax law’s impact on higher ed" (2017). CUNY Academic Works.