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House GOP Proposes Major Increase to Endowment Tax on Elite Colleges Amid Trump’s Ongoing Feud

Republicans in Congress push to raise the tax on college endowments from 1.4% to possibly 21%, intensifying a debate over higher education funding.


Overview

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Amid President Trump’s conflict with elite universities, House Republicans propose increasing the tax rate on large college endowments from 1.4% to as high as 21%. This comes as part of efforts to raise revenue for a tax bill. Critics argue it could detrimentally affect financial aid for students and compromise colleges' charitable status. The discussions signal a shift in perspective regarding the tax-exempt status of these wealthy institutions, as lawmakers explore ways to offset significant budget cuts. The proposed changes could potentially impact more colleges by reevaluating the criteria for enacting the tax.

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