Dear Majority Leader McConnell and Minority Leader Schumer:
On behalf of the American Association of Colleges of Pharmacy (AACP), I write to strongly oppose S., 1 the Tax Cuts and Jobs Act.
As currently written, this legislation will adversely affect the 64,000-plus students enrolled in the 142 accredited pharmacy schools in the United States. We commend the Senate for excluding many of the education-related proposals in the House bill. However, the following proposal undermines the stability of higher education in the United States and creates additional barriers to entry for health professions students:
- The proposal to tax the yield of university endowments will negatively impact the ability for our schools and colleges of pharmacy to provide scholarships for students, decrease funds used to support faculty and limit resources used to support student development.
Pharmacists and pharmaceutical scientists are on the front line of healthcare and remain critical to the health of our nation during many health crises, including the ongoing opioid epidemic. It is imperative that we do not place additional barriers to entry for health professions students, including those pursuing pharmacy education, and strengthen rather than weaken support for students as they further their education.
We strongly urge you to reject the education-related proposals in the House version of the legislation, as the Senate and House head to conference and continue to reinforce the commitment that Congress has to strengthening professional and graduate education in America.
Lucinda L. Maine, R.Ph., Ph.D.
Executive Vice President and CEO
CC: Members of the United States Senate