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Jessica Blake
Inside Higher Ed
Excerpt: House Republicans on the Ways and Means Committee released the full version of a long-awaited tax bill Monday that does for higher ed exactly what they suggested it would in a draft version Friday: dramatically increase the excise tax on wealthy colleges’ endowments.
If the legislation passes, the tax rate for each institution would range from 1.4 to 21 percent, depending on the size of its endowment and the number of students it enrolls, according to the 339-page bill. As with the existing endowment tax, the increases would apply only to private institutions.
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Violating the First Amendment will cost you. Universities and other public institutions are learning this lesson the hard way as the dust settles on a series of lawsuits brought by university faculty and staff who were punished for their comments about Charlie Kirk’s murder last September.
If Johns Hopkins University wanted to signal its seriousness about creating an alternative to the left-leaning orthodoxy that permeates higher education, it couldn’t have done better than the recent hire of economist Peter Arcidiacono.
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