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发帖数: 1193 | 1 http://www.nytimes.com/aponline/2017/12/20/us/ap-us-berea-college-taxes.
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A last-minute change to a sweeping overhaul of the nation's tax code means a
private college that serves needy students in Appalachian Kentucky will
lose an exemption that could cost it more than $1 million each year.
The tax bill Congress approved Wednesday includes a 1.4 percent tax on the
large endowment earnings of private universities with at least 500 students.
It was meant to apply to schools with large endowments like Princeton,
Harvard and Yale.
Lawmakers crafted an exception for Berea College because of its unique
mission. The school doesn't charge tuition because it only accepts students
who cannot afford to pay. Instead, it relies on its billion-dollar endowment
while its students take jobs at the school to help pay for their education,
room and board.
But Berea's exemption was removed from the bill in the Senate because it
violated the chamber's budget rules. Berea President Lyle Roelofs says a $1
million hit for a school with a $50 million annual operating budget means it
might have to accept fewer students.
"I think we became a casualty of the two sides in that contention," Roelofs
said. |
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