A new Republican bill in Congress aims to increase taxation on U.S. universities, specifically targeting those viewed as 'woke.' The proposed legislation could significantly impact the financial foundations of many institutions by taxing earnings from their endowments, funds crucial for long-term sustainability. Historically, colleges have not been taxed on these endowments since the Revenue Act of 1909. The bill follows previous taxation changes enacted during Trump's presidency, which could further harm schools already affected by his administration's policies and recent political struggles related to protests on campuses.
Republicans aim to hold 'woke' universities accountable with a new tax bill, risking the financial stability of many educational institutions across the country.
The proposed legislation targets universities' endowment earnings, potentially devastating their financial health and limiting future educational funding.
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