A tax on college endowments began in Trump’s first administration. It could soon rise

By COLLIN BINKLEY, AP Education Writer
WASHINGTON (AP) — A tax on the endowments of America’s wealthiest colleges began during President Donald Trump’s first administration, collecting 1.4% of their investment earnings. Under Republican proposals on Capitol Hill, that rate could increase by tenfold or more.
As Trump spars with prestigious colleges he accuses of “indoctrinating” students with leftist ideas, calls to raise the tax have gained momentum.
Republicans hav