Provisions That Bleed Grad Students and the Sick Are Struck From Final Tax Bill

Daren Fentiman via ZUMA

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According to the Wall Street Journal, the following items have been left out of the final version of the Republican tax bill:

  • Repeal of the deduction for large medical expenses.
  • Repeal of the tax-free status of graduate-school tuition waivers
  • Repeal of the student-loan interest deduction
  • Repeal of private activity bonds

The first provision allows people to deduct medical expenses that are greater than 10 percent of their income. The second provision applies to grad students, who aren’t required to pay taxes on the “income” from waived tuition fees. Both benefits will now remain instead of being killed off.

As far as I know, none of these four ever amounted to much money, so ditching their repeal won’t affect the overall score of the bill. This makes you wonder why they were included in the first place, of course, but for now I guess we can just breathe a sigh of relief that they’re gone.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

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Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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