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Sen. Cotton’s Bill Would Tax Billion-Dollar Universities to Fund Programs for Working Americans

The following article, Sen. Cotton’s Bill Would Tax Billion-Dollar Universities to Fund Programs for Working Americans, was first published on Flag And Cross.

Arkansas Republican Senator Tom Cotton has introduced a great bill that would tax the billion-dollar endowments of anti-American universities such as Princeton to help fund programs for working class Americans.

Cotton’s Bill to would tax private university mega-endowments and support workforce training programs.

Many of these left-wing universities have hundreds of millions in “endowments” sitting in the bank even as they cry poor and keep raising their tuition prices. But Cotton wants to put a one percent tax on these deep oceans of cash that sits free of charge in the bank accounts of these anti-American schools.

On May 11, Cotton tweeted, “Our wealthiest universities have amassed billions of dollars, virtually tax-free, all while indoctrinating our youth with un-American ideas. My bill will tax mega-endowments to support training programs to create high paying, working-class jobs.”

Cotton added that his bill would require “these institutions to draw down five percent of the value of their endowments each year.”

“Our wealthiest colleges and universities have amassed billions of dollars, virtually tax-free, all while indoctrinating our youth with un-American ideas. This bill will impose a tax on university mega-endowments and support vocational and apprenticeship training programs in order to create high paying, working-class jobs,” Sen. Cotton added.

According to his press release, Cotton’s bill would:

  • Levy a one-percent tax on the fair market value of endowments held by the richest private colleges. The tax would apply to private colleges that 1) have more than 500 full-time enrolled students, 2) have endowments worth more than $2.5 billion and $500,000 per full-time enrolled student, 3) do not have a religious mission.
  • Generate an estimated $2 billion in revenue per year, which would be redirected to support vocational and apprenticeship training programs.
  • Require the richest private colleges to distribute at least five percent of their endowment to support their educational mission per year, or else face a penalty. This requirement mirrors the tax treatment of private foundations.

This would be so good!

Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston.

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As stated, those collegesare ‘left winged’ and the dems in DC will not vote for a bill that is not favored by their liberal brain-washing comrades.

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