sponsor
Homepage > Politics


Related To Story

Lawmakers Mulling College Endowment Tax

State Would Ask For Millions From Colleges, Universities

POSTED: 6:44 am EDT April 30, 2008
UPDATED: 7:17 am EDT April 30, 2008

Some private colleges across Massachusetts may be asked to share the wealth.

It's all part of a plan being discussed on Beacon Hill aimed at finding new revenue for the state budget.

Lawmakers are considering taxing endowments at huge universities and colleges around the state.

House representatives have a proposal that would impose a 2.5 percent tax on endowments that exceed $1 billion.

There are at least seven private colleges and universities in the state that would fall into this category.

An example of how much the top schools would pay if the state adopted such a plan would require Harvard, with its $34.9 billion endowment, to pay $875 million to the state. The Massachusetts Institute of Technology, with its $9.9 billion endowment, would pay $247 million to the state. Boston College, with its $1.75 billion endowment would pay $43.75 million in new taxes to the state.

There are four other schools that also have endowments exceeding $1 billion. They include Boston University, Smith College, Tufts University and Wellesley College.

The endowment tax is a popular idea among house lawmakers who have already voted to send it in a study proposal to the Department of Revenue.


Links We Like
Depression can vary widely in severity. Some forms you can treat yourself, others may require drugs and therapy. Let us help you sort it out. More

Having trouble selling your home in a slowing market? Use these helpful tips to make your house stand out from the rest and get it sold. More

Know your own value and you will be more confident when it comes time to negotiate your next deal. More

If you’re thinking of renovating, here are four upgrades that won’t pay off if you decide to sell your home. More

Like online video? Then you'll love Now See This.

Links We Like includes a selection of information, tools and resources from our partners and sponsors.

Sponsored Links

2008 Candidates
Select a candidate below to see more coverage from the campaign trail.

Commitment 2008

Delegate Count:

Democrats Total

2,118 Needed (Explainer)

1.Obama2,129
2.Clinton1,910.5
3.Edwards8 (Out)
Republicans Total

1,191 Needed (Explainer)

1.McCain1,413
2.Huckabee286 (Out)
3.Romney260 (Out)
4.Paul19

Source: Associated Press

Hearst-Argyle Television stations nationwide continue an aggressive commitment to our viewers with award-winning political news coverage we call Commitment 2008. More


You don't have to surf around the Web to find the top political headlines. We're doing the work for you! More


Conversation with the Candidates

Conversation With The Candidate
Take a look back at some of the highlights from our "Conversation With The Candidate" series in which presidential candidates directly answered voter questions. More