TAX WEALTHY PRIVATE COLLEGES


By Bob Katzen
 
 On May 9 hearing there is a bill scheduled that would impose a 2.5 percent tax on any private college that has an endowment fund of more than $1 billion. The funds would go into a newly-created Educational Opportunity for All Trust Fund that would be used exclusively for the purposes of subsidizing the cost of higher education, early education and child care for lower-income and middle-class residents of the Bay State.

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