By Dian Schaffhauser, Campus Technology
The proposed Congressional Tax Reform Act of 2014, put forward this week by Dave Camp, chair of the House Ways and Means Committee, would end deductions for tuition and student loan interest and eliminate certain deductions, such as classroom supplies purchased personally by teachers in an effort to simplify the tax code related to education. To soften the blow to education, promised the authors, taxpayers would see “more generous” standard deductions, which could offset specific ones no longer allowed.
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