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Four Things Educators Should Know About the Tax Bill Trump Just Signed

President Donald Trump just signed a major tax bill into law. It took two votes in the House to finally get it done, and the holdup was related to education. (More on that below.) So what does it mean for education? Here's a short list. 1) School funding in states and districts might get shaken up. That's because the tax bill changes how deductions for state and local tax work. In short, it imposes a new, $10,000 cap on those deductions-taxpayers can choose to deduct that amount in either property or sales taxes they pay, or property and income taxes. Supporters of such a move argue it will rein in improperly high state and local tax rates. But by the same token, critics charge decreasing these federal deductions could ultimately lead to stagnant or reduced state and local funding for K-12. Click here to read more about the potential impact of this change on schools.  Read More

Andrew Ujifusa | Education Week