As things move quickly in Washington, DC, NACUBO is your constant advocate in action. NACUBO On Your Side covers important legislative and agency activity NACUBO staff are tracking, what we’re currently advocating for, and how you can take action with us.
Here are the issues we are tracking and advocating for this week.
On the Hill
Congress Averts Shutdown With Short-term Spending Package
In the final hours of the federal government’s fiscal year, legislators passed a continuing resolution to avoid a shutdown and fund the government through mid-December. As a member of the Student Aid Alliance, NACUBO has called on Congress to use FY23 appropriations legislation to double the maximum Pell Grant award and increase funding for campus-based aid and student support programs.
NACUBO Responds to GASB’s Risk Disclosure Exposure Draft
A Governmental Accounting Standards Board (GASB) exposure draft, Certain Risk Disclosures, would require public institutions to disclose information about risks that could impact the institution’s future.
Biden Administration’s Broad Loan Forgiveness Faces First Legal Challenges
The Biden administration’s proposal to cancel $10,000 of outstanding student loan debt for borrowers earning under $125,000 is facing two legal challenges. In the first lawsuit, a federal judge ruled against a plaintiff who challenged the administration’s ability to automatically cancel debt on the grounds that certain individuals could be forced to pay state taxes on the amount forgiven. The second, filed by seven Republican attorneys general, alleges that the administration lacks the authority to issue such broad debt relief.
NACUBO Raises Concerns Over Proposed Transparency Legislation
NACUBO joined a number of municipal issuer representative groups to express concerns about S. 4295, the Financial Data Transparency Act (FDTA) and its possible inclusion as an amendment to the FY23 National Defense Authorization Act. While we stated that we do not oppose transparency and accessibility of information, we argued that the bill creates complex burdens and could create more confusion and ultimately reduce transparency by forcing vastly different kinds of governmental entities to report using a rigidly standardized scheme or taxonomy.
NACUBO On Your Side: September 20–26, 2022