
Trump’s new endowment tax hits elite US universities onerous: Might it shut the door on lower-income candidates?
America’s most prestigious universities, together with Harvard, Yale, and Stanford, are bracing for an unprecedented hike in taxes on their multi-billion-dollar endowments. A brand new regulation, signed final month by President Donald Trump as a part of his flagship spending invoice, replaces the flat 1.4% levy with a tiered system charging the wealthiest colleges as…