Tax plans that will negatively impact education opportunities in the US will also impact the country’s ability to compete on a global scale
The bill for tax reform which is currently being considered in congress will make it more difficult for working class American families to afford higher education, and subsequently minimize the amount of educated potential employees available.
Lawmakers who are proponents of the bill state that the plan, which proposes to eliminate tax credits in higher education, will allow for better economic growth in the future and increased jobs.
However, stipulations within the bill such as retracting tuition deductions for graduate students, and decreasing deductions for student loan interest, will generally make it far more difficult from American students from the lower or middle classes to obtain a college education.
Fewer Americans will be able to afford a college education
Simply put, if fewer Americans are able to pursue higher education and acquire a degree, there will be fewer educated future employees in America, and over time the United States will begin to fall behind and slip from its status as a global superpower.
Advocates of the bill suggest that eventually, as a result of the bill, income per household would increase, and that perhaps institutions of higher education may eventually reduce fees in order to be more accessible to students of lesser financial means.
Critics of the bill state that the opposite is likely to happen regarding university fees: it is likely that American universities will proceed to target wealthier potential students from abroad, students who will take the places of American students who are no longer able to afford their degrees.
If the bill passes, the workforce of the future is in jeopardy as well as America’s edge as a competitive entity.