New Bill to Tax College Endowment Investments in Hostile Chinese Companies at 100 Percent

New Bill to Tax College Endowment Investments in Hostile Chinese Companies at 100 Percent
A view of Yale University is seen in this file photo. David Mark/Pixabay
Bill Pan
Updated:
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A new Republican-backed bill in Congress seeks to pressure elite private colleges to pull their endowment dollars from hostile Chinese entities by taxing those investments at a 100 percent rate.

Rep. Greg Murphy (R-N.C.) on Wednesday introduced the Protecting Endowments from our Adversaries Act, which encourages divestment from companies deemed hostile to the United States, including those advancing the interests of the Chinese Communist Party.
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