Friday, December 1, 2017

GOP sneaks provision into tax bill to benefit one college favored by Republican billionaires

https://thinkprogress.org/gop-sneaks-provision-into-tax-bill-to-benefit-one-college-favored-by-republican-billionaires-15c57a2261c9/
"Late Friday night, Republicans released a 479-page amendment to their tax bill. Republican leaders are planning to vote on the bill on Friday or early Saturday morning, and it is expected to pass. Maybe someone should read it first. Tucked away on page 289 is a provision that would exempt certain colleges from a special tax on university endowments. It would only apply to colleges that: 1. Did not accept federal funds, and 2. Had an endowment of at least $500,000 per student. There appears to be only one educational institution in the entire country that would benefit: Hillsdale College. What’s so special about Hillsdale? The school has deep ties to Betsy DeVos, Trump’s education secretary, and her family. The DeVos clan founded Amway, which made them billionaires, and are large Republican donors. The Hillsdale student paper details the connections."