House Republicans Ready Tax on Harvard, Yale

House Republicans are plotting a $1.7 billion tax increase aimed at America's most elite private colleges and universities, my column this week reports. Harvard alone would pay roughly $30 million in tax for a single year in which a $30 billion endowment earned a ten percent return. Yale would pay a $20 million federal tax for a year in which its roughly $20 billion endowment earned a 10 percent return. Please check out the column at the New York Sun here or at Reason here.