Education
Richest U.S. Colleges Would See Relief Under Democrats’ Tax Plan
- Tax siphons from ‘teaching, research, student financial aid’
- College endowment tax was included in 2017 Trump-era bill
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A tax on the richest private U.S. college endowments would be curtailed under a plan by House Democrats, provided the schools address tuition costs.
The provision would reduce the tax through a calculation that weighs revenues from undergraduate tuition and fees against undergraduate financial aid, according to Liz Clark, a vice president at the National Association of College and University Business Officers.