#endowment-tax

#endowment-tax

Over the summer, the Trump administration held an unusual Independence Day celebration at the White House. A live band warmed the crowd with renditions of Chaka Khan's "Ain't Nobody" and Pharrell Williams's "Happy" before the president emerged from the first-floor balcony of the executive residence. Supporters sporting red MAGA caps looked on as he signed the Big Beautiful Bill into law beneath the South Portico's white columns.

What I hear from Republican members of Congress is a desire to ensure that colleges are using their charitable endowments to support today's students and researchers rather than saving too much for the future, said Princeton president Christopher Eisgruber.