Note to Congress: Create Incentives, Not Taxes
Preview:
The U.S. House and Senate are working to reconcile their tax proposals, each of which includes an excise tax on high-endowment, private, nonprofit colleges and universities. The fact that such a tax on endowments appears in both bills suggests it is going to become law if the reconciled bill passes Congress. But rather than taking those resources away, the conference committee should propose a new version of the tax, one that changes the incentives facing those institutions.
Originally published: December 12, 2017
Author: Catharine B. Hill
Position: President Emerita
Institution: Vassar College
Published by: Inside Higher Ed