{"id":1559763,"date":"2022-07-18T16:24:40","date_gmt":"2022-07-18T20:24:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1559763"},"modified":"2022-07-18T16:34:37","modified_gmt":"2022-07-18T20:34:37","slug":"harvard-is-lobbying-for-a-special-tax-cut-republicans-respond-by-proposing-just-the-opposite","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/harvard-is-lobbying-for-a-special-tax-cut-republicans-respond-by-proposing-just-the-opposite\/","title":{"rendered":"Harvard Is Lobbying For A Special Tax Cut \u2014 Republicans Respond By Proposing Just The Opposite"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fharvard-is-lobbying-for-a-special-tax-cut-republicans-respond-by-proposing-just-the-opposite%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1559763&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/2022-04-27T171855Z_1307744124_RC2SVT9DA8J6_RTRMADP_3_USA-RACE-HARVARD-scaled-e1658171426956.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Harvard University is encouraging Congress to lower the endowment tax on the university to reduce the amount paid on their income from private donors, according to Inside Higher Ed, a move met with backlash from congressional Republicans.<\/p>\n<p>A 2017 tax put in place by Republicans establishes a 1.4% tax on college\u2019s net investment income if their endowment is more than $500,000 per student, <a href=\"https:\/\/www.insidehighered.com\/news\/2022\/07\/18\/harvard-pushing-congress-cut-endowment-tax?utm_campaign=ihesocial&#038;utm_content=harvard_is_pushing_senate&#038;utm_medium=social&#038;utm_source=twitter\" target=\"_blank\" rel=\"noopener noreferrer\">according<\/a> to Inside Higher Ed. <a href=\"https:\/\/dailycaller.com\/2022\/06\/07\/ketanji-jackson-assault-rifles-ban-harvard\/\" target=\"_blank\" rel=\"noopener noreferrer\">Harvard\u2019s<\/a> Senior Executive Director of Federal Relations Suzanne Day is pushing for Democratic Congressmen to eliminate the tax on Harvard and other universities.<\/p>\n<p>\u201cI write to urge you to engage with Democratic senators and allies to press for action on this in the pending FY22 reconciliation bill. We believe this is one of our best chances for improvement in this policy,\u201d Day said in an email obtained by Inside Higher Ed. \u201cThis would transform the existing provision from a politically motivated, damaging tax on charitable resources to a family-centered policy making college more affordable without debt. We believe this approach puts the reform of the endowment tax clearly within the framework for the new reconciliation bill that is being negotiated.\u201d<\/p>\n<p>Republican Senator <a href=\"https:\/\/dailycaller.com\/2022\/07\/13\/msnbc-attempt-josh-hawley-backfired\/\" target=\"_blank\" rel=\"noopener noreferrer\">Josh Hawley<\/a> responded to the article by calling for Republicans to raise the endowment tax, which <a href=\"https:\/\/www.insidehighered.com\/news\/2022\/07\/18\/harvard-pushing-congress-cut-endowment-tax?utm_campaign=ihesocial&#038;utm_content=harvard_is_pushing_senate&#038;utm_medium=social&#038;utm_source=twitter\" target=\"_blank\" rel=\"noopener noreferrer\">applies<\/a> to 100 universities, rather than cut it, in a <a href=\"https:\/\/twitter.com\/HawleyMO\/status\/1549082116956340224\" target=\"_blank\" rel=\"noopener noreferrer\">tweet<\/a>\u00a0Monday.<\/p>\n<p>\u201cHarvard wants their endowment tax cut. I have a better idea. Let\u2019s raise it,\u201d Hawley wrote. \u201cUniversities have become woke hedge funds with students\u2019 and parents\u2019 money.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Harvard wants their endowment tax cut. I have a better idea. Let\u2019s raise it. Universities have become woke hedge funds with students\u2019 and parents\u2019 money <a href=\"https:\/\/t.co\/xz7L78haCa\">https:\/\/t.co\/xz7L78haCa<\/a><\/p>\n<p>\u2014 Josh Hawley (@HawleyMO) <a href=\"https:\/\/twitter.com\/HawleyMO\/status\/1549082116956340224?ref_src=twsrc%5Etfw\">July 18, 2022<\/a> <\/p>\n<\/blockquote>\n<p>Republican Congressman Tom Cotton has advocated for the same, proposing <a href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/senate-bill\/1547\/text?r=19&#038;s=1&#038;format=txt\" target=\"_blank\" rel=\"noopener noreferrer\">The Ivory Tower Tax Act,<\/a> which would be a total $2 billion yearly tax increase to higher education institutions in May 2021, Arkansas Democrat Gazette <a href=\"https:\/\/www.arkansasonline.com\/news\/2021\/may\/14\/cotton-calls-for-tax-rise-on-deep-pocket-schools\/#:~:text=Cotton%27s%201%25%20tax%20on%20endowments%20would%20apply%20to,has%20the%20most%20to%20lose%20if%20Cotton%20succeeds\" target=\"_blank\" rel=\"noopener noreferrer\">reported.<\/a> Harvard would be affected the most by the act since it receives the largest <a href=\"https:\/\/finance.harvard.edu\/files\/fad\/files\/fy21_harvard_financial_report.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">endowment<\/a>\u00a0($53.2 billion) in the country.<\/p>\n<p>Democrats have until September to finalize a Build Back Better reconciliation bill which could include a tax cut for Harvard and other universities, Inside Higher Ed reported. <strong><a href=\"https:\/\/dailycaller.com\/2022\/04\/27\/harvard-slavery-report-race-admissions-supreme-court\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED:\u00a0Harvard\u2019s \u2018Legacies Of Slavery\u2019 Report Openly Brags About The Ivy\u2019s Racist Admissions Policies)<\/a><\/strong><\/p>\n<p>Harvard University, Day, Cotton and Hawley did not immediately respond to the Daily Caller News Foundation\u2019s request for comment.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8216;Universities have become woke hedge funds&#8217;<\/p>\n","protected":false},"author":1142,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1559763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1559763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1142"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1559763"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1559763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1559763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1559763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1559763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}