💨 Abstract

Under President Trump, a 1.4% tax on wealthy college endowments was implemented in 2017. Now, Republican proposals aim to increase this rate by tenfold or more, with calls to raise the tax gaining momentum. Critics argue that colleges, with huge endowments, should not receive tax breaks offered to businesses. Proposed increases could impact financial aid and student support. The American Council on Education labels it a "tax on scholarships."

Courtesy: wtop.com

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