About the bill
Even though December’s tax reform law lowered taxes on everything from income to corporate profits, it actually increased taxes on some college endowments for the richest schools.
The tax reform bill didn’t have that effect on all colleges, to be clear — only 23 schools met the criteria for the increased taxation during the 2015–16 academic year.
Yet the schools that do meet that criteria have endowments cumulatively worth hundreds of billions of dollars. And because the financial thresholds were not indexed to inflation, more and more schools would become subject to the tax with every passing year.
This anomaly existed in an otherwise largely tax-reducing bill because the Republican base has become increasingly skeptical of higher education institutions, especially the “elite” institutions which they perceive as Ivy …
Sponsor and status
Sponsor. Representative for Maryland's 6th congressional district. Democrat.
Last Updated: Mar 8, 2018
Length: 2 pages
115th Congress (2017–2019)
This bill was introduced on March 8, 2018, in a previous session of Congress, but it did not receive a vote.
Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).
13 Cosponsors (8 Republicans, 5 Democrats)
Mar 8, 2018
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.
H.R. 5220 (115th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number H.R. 5220. This is the one from the 115th Congress.
This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not passed by the end of a Congress is cleared from the books.
How to cite this information.
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GovTrack.us. (2022). H.R. 5220 — 115th Congress: Don’t Tax Higher Education Act. Retrieved from https://www.govtrack.us/congress/bills/115/hr5220
“H.R. 5220 — 115th Congress: Don’t Tax Higher Education Act.” www.GovTrack.us. 2018. January 22, 2022 <https://www.govtrack.us/congress/bills/115/hr5220>
Don’t Tax Higher Education Act, H.R. 5220, 115th Cong. (2018).
|title=H.R. 5220 (115th)
|accessdate=January 22, 2022
|author=115th Congress (2018)
|date=March 8, 2018
|quote=Don’t Tax Higher Education Act
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