What did the fiscal cliff deal mean for LSU?
Research is not affected, yet.
The compromise postponed an 8.2% cut in domestic discretionary spending, which is how most academic research
funding is categorized. For the next two months, NSF and NIH funding are protected.
The Farm Bill was inserted into the fiscal cliff deal, extending its authorization through September. While agriculture was not cut, many programs were moved from “mandatory” to “discretionary”, including the agriculture grant programs administered by the National Institute for Food and Agriculture (USDA-NIFA). The change in category makes the program susceptible to cuts.
Tax credits for alternative energy research were extended.
The tax deduction for employer-provided tuition assistance was made permanent. Pell Grants were always protected in the debate.
Student loan interest deduction remains effective.
A cap on charitable contributions was initially proposed, but ultimately did NOT make it into the compromise.
New Market Tax Credits were extended. LSU falls within the NMTC zone, but does not use them currently.
It’s difficult to find sources of information on this. Here are a couple for additional reading:
Journal of Accountancy, list of actions