Harvard's President Joins 48 Higher Ed Leaders Seeking Endowment Tax Repeal

The Harvard Crimson reports:

University President Drew G. Faust joined 48 other higher education leaders in penning a letter to congressional leaders Wednesday to express “deep objections” to the new federal tax on endowment returns and to ask Congress to “repeal or amend the tax.”

The letter, which includes signatures from every Ivy League university president except for Columbia’s—which does not currently qualify for this tax—specifically addresses the schools’ concerns about the tax’s potential to limit financial aid resources.

“[The tax] will constrain the resources available to the very institutions that lead the nation in reducing, if not eliminating, the costs for low- and middle-income students, and will impede the efforts of other institutions striving to grow their endowments for this very purpose,” the letter reads.

When you spend decades employing socialists who actively promote socialism: eventually you'll be asked to pay "your fair share".