House GOP Proposes Major Tax Hikes on University Endowments, Targeting Elite Institutions

The House Ways and Means Committee unveiled a tax bill that increases taxes on university endowments up to 21% based on the endowment per student ratio. This move targets elite institutions, notably Harvard, whose endowment would face a hefty tax burden due to its size. The proposed structure aims to generate significant revenue to support President Trump's domestic agenda, reflecting concerns over university practices and ideologies. The legislation mirrors Trump's focus on incentivizing American manufacturing and includes pro-family policy provisions. The bill is set for markup in Congress soon.