The Hill article MARSHALL, N.H. — If there’s a silver lining to President Donald Trump’s tax cut, it’s that it was a victory for Marist College, which has become one of the country’s most progressive universities.
The New York Times reported Monday that Trump’s administration made Marist one of three universities that were granted exemptions from the President’s 2018 tax bill.
In addition, Marist was exempted from the president’s new tax cuts, which took effect on January 1.
The exemption was a welcome boon for the Marist school, which had been hit hard by the tax cut and had a steep debt burden.
Trump signed an executive order to lift the tax breaks last year, and the school had to close two campuses.
Marist’s chief executive officer, David Rosenbaum, told the Times the tax relief for the school “really put us in a better position.”
But the university was also hit by a series of cuts to the university’s budgets that forced it to shut down two campuses, the College of Education and College of Liberal Arts.
Rosenbaum told the newspaper that the school was on track to make $1.5 million in losses in 2019-20.
The school’s finances also suffered because of a cut to the school’s state aid, which now stands at $400,000.
But Rosenbaum also defended the tax cuts.
“I think the president has done a lot for our university,” he told the paper.
Rosenbaum said he’s hopeful that the Trump administration will extend the tax exemption to other universities and make them eligible for other tax cuts under the next round of tax reform. “
This is one of those things where we feel like we can do things differently.”
Rosenbaum said he’s hopeful that the Trump administration will extend the tax exemption to other universities and make them eligible for other tax cuts under the next round of tax reform.
Marst is one school that may get a boost under the Trump White House’s tax plan.
The president has promised to boost the federal budget by $54 billion, or 10 percent, over the next decade.
He also promised to cut taxes for corporations and the wealthiest Americans, while expanding tax breaks for working families.
But the Trump campaign has been skeptical of that proposal, which would allow corporations to write off their corporate tax bills in the years before they’re taxed.
That tax break could be a boon for Marst, since the school depends on federal funding.
The college, however, has also struggled financially under the tax code’s many provisions, especially those related to federal grants, loans and research.
“As a private institution, we have had to spend some of our capital resources on this tax bill, and we have to be cautious,” Rosenbaum wrote to the Times.
“If we were to write the book on the tax bills that we have received in the last few years, this would be one of them.”