Republican lawmakers’ proposed changes to the federal tax code are causing a stir in the education community. Teachers and others are zeroing in on the bill’s repeal of the $250 tax deduction teachers and principals can take for spending their own money on classroom supplies. But, aside from that, how could the bill impact an individual teacher’s tax bill?Let’s examine how a couple of hypothetical teachers would fare under the legislation introduced in the U.S. House of Representatives last week and try to tease out an answer.
The following scenarios are in a world where the GOP tax bill is approved as released. Will it pass? Will lawmakers amend it? If so, how? Nobody knows the answers to those questions. Right now, House lawmakers are vigorously debating it. But let’s figure things out based on what we know is in the bill.
For this analysis, we’re leaving out a lot of factors that could affect these hypothetical teachers’ taxes. We’ve also tried to keep it relatively simple, in order to get a basic idea of how the proposed tax changes could work for many teachers.
The Average Teacher
We reported in August that the average public school teacher makes a base salary of $55,100 annually, and that this average teacher works 53 hours a week and has 14 years of teaching experience, according to the U.S. Department of Education’s School and Staffing Survey…
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