The proposed bill is not a surprise - Brian Flahaven and I made mention of
this initiative during our videocast a couple of months ago. But there had
been hopes the notion would not see the light of day. Sadly, that might
not be the case.
John
John H. Taylor
Principal, John H. Taylor Consulting
2604 Sevier St.
Durham, NC 27705
johntaylorconsulting@gmail.com
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
---------- Forwarded message ---------
From: Justine Davenport via CASE <
Mail@connectedcommunity.org>
Date: Thu, Jun 6, 2019 at 10:22 AM
Subject: CASE Advocacy Network : Senator Wyden Introduces Bill in Response
to Colleges Admissions Scandal
To: <
johntaylorconsulting@gmail.com>
In response to the college admissions scandal, Senate Finance Committee
Ranking Member Ron Wyden (D-OR) introduced the College Admissions
Fairness... -posted to the "CASE Advocacy Network" community
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Senator Wyden Introduces Bill in Response to Colleges Admissions Scandal
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Jun 6, 2019 10:22 AM
Justine Davenport
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In response to the college admissions scandal, Senate Finance Committee
Ranking Member Ron Wyden (D-OR) introduced the College Admissions Fairness
Act <https://www.congress.gov/bill/116th-congress/senate-bill/1732>
(S.1732), a bill that would curb the charitable deduction for certain
donors to colleges and universities who do not have a written policy
prohibiting consideration of philanthropic donations as a factor in the
admissions process.
Specifically, the bill would:
- Set a maximum of $100,000 in donations over a six-year period that
would be deductible for parents' gifts to schools if that school considers
donations in admissions.
- Parent donations above $100,000 in the six years before a child's
attendance would be "recaptured" – parents would be required to pay tax on
the amount they deducted over $100,000 during that time period.
- Require schools receiving federal financial aid to publicly report the
number of applicants, admitted students, and enrolled students who are
children of donors. This information would also be included in IRS filings.
- Expand the quid pro quo rules
- Amend the Higher Education Act to include a new requirement that
institutions have a written policy that prohibits philanthropic donations
as a factor in admissions.
For additional context, please see Senator Wyden's full press release
<https://www.finance.senate.gov/ranking-members-news/wyden-to-introduce-legislation-ending-tax-break-for-college-donations>
announcing his intent to introduce legislation as well as this Bloomberg
Tax article
<https://news.bloombergtax.com/daily-tax-report/tax-perks-for-college-donations-would-be-slimmer-under-wyden-bill?utm_source=twitter&utm_medium=taxdesk&utm_campaign=5C05A706-87CE-11E9-86D1-538F2AECE977>
summarizing the bill.
We are evaluating the further and will continue to provide updates.
------------------------------
Justine Davenport
Specialist, Advocacy Communications
Council for Advancement and Support of Education
Washington, DC
jdavenport@case.org
------------------------------
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