The latest Senate Republican proposal to tax university endowments raises the minimum tax threshold to apply to colleges from 500 tuition-paying students to 3,000.
Republicans released a new version of their multitrillion-dollar tax-and-spending package early Saturday, though some tax pieces are still in flux.
The new formula on how to calculate the endowment size on a per-student basis is determined by counting all students rather than only those meeting federal eligibility requirements.
The change came after the Senate parliamentarian ruled Friday exemptions for some religious schools must be removed from the plan.
The current tax rate for investment ...
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