The Trump administration is privately considering unleashing what advocates and critics agree would be one of its biggest cudgels yet to pressure colleges.
President Trump expressed optimism that lawmakers could reach a compromise on the state and local tax deduction, a sticking point in his "One Big Beautiful Bill."
The Senate version of President Donald Trump's tax-cutting bill slashes green energy tax credits but contains generous subsidies for petroleum companies that use captured carbon dioxide in oil production.
The provision would allow energy companies subject to a 15% corporate alternative minimum tax to deduct certain drilling costs when calculating taxable income.
A group of tax organizations, including the NATP and NAEA, hopes to preserve the core tax functions relied on by tax professionals despite cutbacks at the IRS.
