Endowment Tax Repeal Finds Supporters in Both Political Parties
- About 30 schools would pay 1.4% tax on net investment earnings
- College funds had assets of $567 billion in fiscal 2017
Photographer: Craig Warga/Bloomberg
This article is for subscribers only.
A House bill to repeal the four-month-old U.S. college endowment tax has gained sponsors on both sides of the political aisle.
Yet none of the sponsors, including Republicans Lamar Smith of Texas and Bradley Byrne of Alabama, sit on the critical Ways and Means Committee, which is in charge of introducing the bill, HR 5220.