Trump spending bill to quadruple the tax on university endowments

BreakdownGenerated by LeadStory AI

• A new bill will increase the tax on university endowments, creating three tax brackets. 13s
• Schools with endowments above $2 million per student will pay an 8% tax. 40s
• Major universities such as Harvard, Yale, Princeton, MIT, and Stanford are affected by the highest rate. 47s
• Schools with fewer than 3,000 students are exempt from the higher tax rates. 1m 8s
• A proposed exemption for religiously affiliated schools was removed, affecting institutions like Notre Dame. 1m 35s