New GOP bill seeks to hold private universities to same tax standard as corporations: 'On notice'
Fox News
Rep. Troy Nehls of Texas is introducing legislation to raise taxes on private university endowment profits to be in line with the corporate tax rate.
Aubrie Spady is a Writer for Fox News Digital.
However, a new Republican bill would raise that tax to hold elite educational institutions to the same tax standard as corporations, which currently see a 21% corporate tax.
Rep. Troy Nehls, R-Texas, is expected to introduce legislation on Wednesday, the Endowment Tax Fairness Act, to raise the excise tax on annual private university endowment investment returns by nearly 20 percentage points, from 1.4% to 21%.
House Democrat pushes Senate to reverse Trump federal union order after GOP revolt by 20 Republicans
Rep. Jared Golden's bill reversing President Donald Trump's executive order on federal worker unions passed the House with bipartisan support from 20 Republicans.
National Guard Staff Sgt. Andrew Wolfe shows remarkable recovery after Washington D.C. shooting, as he is now breathing independently and standing with help, medical team says.
Investigation reveals broadcast networks devoted only 21% to 31% of Somali coverage to Minnesota billion-dollar fraud, focusing instead on Trump's critical comments.
Luigi Mangione's defense attorneys challenge evidence from his Pennsylvania arrest in pre-trial hearings for the alleged murder of UnitedHealthcare CEO Brian Thompson.
Article argues Chief D.C. U.S. District Judge James Boasberg should face impeachment for alleged judicial misconduct and partisan rulings against Trump administration.
Former prosecutor compares media coverage of Charlie Kirk's murder case involving Tyler Robinson to the 1993 Omar Abdel Rahman terrorism prosecution.
The homeless Massachusetts woman who stabbed another woman changing her baby in the bathroom at Macy's in NYC carried out the attack hours after being released from a psychiatric hospital.
Australia’s sweeping social media ban for teens has U.S. lawmakers questioning why Congress hasn’t done more to safeguard kids online.
The Department of Homeland Security is allegedly shifting immigration enforcement tactics away from broad raids to targeting illegal immigrants convicted of serious crimes after unfavorable polls.
Ashley Wasielewski suffered second and third-degree burns covering half her body after an unknown attacker threw corrosive chemicals on her near Savannah's Forsyth Park.
Jim Harbaugh said he's "still processing" news of his Michigan successor Sherrone Moore's arrest on stalking and home invasion charges after his firing.
Special forces veteran Bryan Stern described the covert operation to extract Venezuelan opposition leader María Corina Machado from hiding in Venezuela on Fox News Radio.
Singer SZA criticized the White House for using her song "Big Boy" in a social media video promoting Immigration and Customs Enforcement deportation operations.