“We are disappointed that Congress and President Trump have decided to move forward with a tax bill that threatens to have a lasting negative impact on America’s innovation and economy. While we are heartened that provisions placing punishing tax burdens on graduate students have been removed, the doubling of the standard deduction without expanding charitable deductions to non-itemizing taxpayers will likely lead to a significant decrease in charitable giving, including crucial support of research and education initiatives.
Only 29 percent of American voters approved of the Senate version of the bill as of December 5, according to a Gallup poll, making it the least popular piece of legislation in more than three decades. However, we will not allow it to deter or discourage the Hertz Foundation from pursuing its mission – to support the most talented PhD students in the U.S. and their early stage research that can lead to the life-changing discoveries and innovation that our country depends on to maintain its position as a world leader.
As always, we believe in America and remain eternally hopeful for our future. On behalf of the Hertz Foundation, I want to thank everyone who took action and contacted their members of Congress to protect our nation’s leadership in science education and innovation, along with the philanthropic heritage that has been crucial to these efforts and so many other dimensions of our American way of life. Democracy only works if everyone makes their voice heard and I encourage you all to continue to remain engaged.
– Robbee Baker Kosak, president, Fannie and John Hertz Foundation