University of Notre Dame Loses Endowment Tax Shield in GOP Bill

It looked like the University of Notre Dame would be safe from a Republican proposal to raise taxes on college endowments.

But a loophole for religious schools was removed from the final tax bill, leaving the South Bend, Indiana-based school to pay a higher levy on its $20 billion endowment.

Under the “One Big Beautiful Bill Act” that President Donald Trump signed last week, wealthy private schools with at least 3,000 students will face a higher tax rate on the net investment income from their endowments. Religious colleges had been exempted from the expanded levy in previous proposals.

Notre ...