Skip to content Menu

After weeks of negotiation between Treasury Secretary Steven Mnuchin and both Republican and Democrat Congressional leaders, the House and Senate passed a bill that suspends the debt ceiling for two years, halts potential sequestration cuts, and agrees on a $2.7 trillion top-line appropriation number. President Donald Trump signed the bill into law shortly thereafter.

The Bipartisan Budget Act of 2019 includes slight funding increases for defense and non-defense programs but drew criticism from some fiscal conservatives in both parties, who say the bill features irresponsible spending. Most notably, now that the bill is passed, lawmakers can begin the work of appropriating the agreed-upon budget dollars among the 12 yearly appropriations bills that fund the federal government. While lawmakers have regularly missed the October 1 deadline for appropriations in recent years, leaders of both parties have expressed some optimism about agreeing on all 12 bills on time this year.

Of particular interest to higher education, and the entire nonprofit community, is the potential for the these appropriations bills to contain repeal provisions of unpopular portions of the Tax Cuts and Jobs Act of 2017 (TCJA). The TCJA’s parking and transportation unrelated business income tax (UBIT), the UBIT basketing requirement, and even the net investment income tax on colleges and universities each have at least some potential for repeal as Congress begins drafting appropriations legislation.


Megan Schneider

Senior Director, Government Affairs


Related Content

What Did I Miss in Washington? June 25-July 9, 2019

The Department of Education changes gainful employment rules, NACUBO advocates for “kiddie tax” fix, Dreamers, and 179D, and more.

What Did I Miss in Washington? July 10-29, 2019

The House votes down the “Cadillac tax,” Ellucian pushes back on ED’s characterization of its Banner cybersecurity breach, the Senate approves a new Department of Education official, and more.

New Videos Advocate for Tax-Exempt Bond Policy Changes

New videos co-produced by NACUBO recommend reinstatement of advance refunding and improvements for bank-qualified bond terms. Bipartisan legislation recently introduced in the House reflects NACUBO’s recommendations for the latter.