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Increased endowment tax targets elite universities

President Trump’s megabill raises taxes on endowment income of private colleges. Experts warn the hike will hurt higher education.

University of California (Berkeley) alumna Bethany Schoenfeld demonstrates against the Trump administration at her alma mater as part of a Day of Action for Higher Education on April 17. (AP Photo/Noah Berger)
University of California (Berkeley) alumna Bethany Schoenfeld demonstrates against the Trump administration at her alma mater as part of a Day of Action for Higher Education on April 17. (AP Photo/Noah Berger)
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