Architects Urge Congress to Find More Equitable Funding Solution for Student Loan Program
AIA Appreciates Senate Move to Block Tax Hike on Small Business
Contact: John Schneidawind
For immediate release:
Washington, D.C., May 8, 2012 – The American Institute of Architects (AIA) today expressed its appreciation for the Senate’s decision to table a proposal to hike taxes on small businesses who file as so-called Subchapter S Corporations, many of whom are architects.
The S Corp. tax hike proposal has recently surfaced as part of an effort to find replacement revenue for money lost to the federal government if Congress keeps the current 3.4% student loan interest rate, which is set to increase to 6.4% on July 1. The AIA has expressed support for efforts to reduce student debt burdens.
The following statement should be attributed to AIA President Jeff Potter, FAIA:
“We appreciate the Senate’s move to table this proposal, which never made much sense to us as it would have raised taxes on job creators and in turn made it more difficult to hire college graduates in the first place.
“We urge Congress now to come together and find a more equitable solution to keeping student loan rates low.”
About The American Institute of Architects
For over 150 years, members of the American Institute of Architects have worked with each other and their communities to create more valuable, healthy, secure, and sustainable buildings and cityscapes. Members adhere to a code of ethics and professional conduct to ensure the highest standards in professional practice. Embracing their responsibility to serve society, AIA members engage civic and government leaders and the public in helping find needed solutions to pressing issues facing our communities, institutions, nation and world. Visit www.aia.org.