OD:The Debt Limit Deal: What Does it Mean for Higher Education?
Tuesday, August 16, 2011 1:30 PM ET
On Tuesday, August 2, President Obama signed legislation to raise the current federal debt ceiling of $14.3 trillion in two stages by as much as $2.4 trillion. The legislation was crafted after months of heated debate, partisan rhetoric, and talk about economic catastrophe. While a feared collapse of the American economy was averted, the federal budget is set to shrink and all domestic programs will be competing for smaller shares—this includes federal student aid, research, science, and education programs. The impact on specific programs will become clear as appropriators focus on the FY12 budget this fall and the bipartisan “super committee” begins its work to find an additional $1.5 trillion in savings.
While Wall Street and business leaders across the country—and the world—breathed a sigh of relief once it was clear Washington lawmakers had reached agreement , the legislation itself sets a course for immediate action and much more difficult decision-making. The powerful “super committee” is required to fast-track legislation to find $1.5 trillion in savings over ten-years—or we will face automatic across-the-board cuts. Lawmakers will return to Washington in September ready to act and interested stakeholders should be prepared to engage in a full-court press to protect programs and policies that may be targeted for cuts or elimination.
What You Will Learn:
- Understand the basic elements of the debt deal, including how it “protected” the Pell Grant program.
- Gain an understanding of what’s at stake as the bipartisan committee looks for an additional $1.5 trillion in deficit reduction, likely including from entitlement and tax reform.
- Find out how you can educate legislators about the importance of federal student aid, research, science, and education programs, as well as tax policies that are important to students and higher education institutions.
Who Should Participate?
- Chief financial officers
- Financial aid administrators
- Tax managers
- Government Relations
Meet the Presenters:
- John Walda, President & CEO
- Matt Hamill, Senior Vice President, Advocacy & Issues Analysis
- Liz Clark, Director, Congressional Relations
- Course Level: Intermediate
- Length: 100 minutes
FeesMember Site Fee: $0.00
Non-Member Site Fee: $49.00
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