💨 Abstract

Republicans are considering a significant increase in the tax on wealthy college endowments, from 1.4% to as high as 21%, as part of President Trump's tax bill. This follows Trump's criticism of universities like Harvard for their large, tax-exempt endowments. The increased tax could significantly impact colleges' budgets, particularly those that rely on endowment returns for scholarships and operating costs.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖