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 in a file file photo. David Mark/Pixabay
Bill Pan
Bill Pan
Reporter
|Updated:
0:00

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.