H. R. 446 aims to amend the Internal Revenue Code of 1986 by increasing the excise tax on investment income of private colleges and universities from 1.4 percent to 21 percent. The additional revenue generated from this tax increase is intended to be used initially to reduce...
Simple Explanation
H.R. 446 is about making private colleges and universities pay a lot more money on the money they make from investments, going from 1.4% to 21%, which is like making a kid give a much bigger piece of their cookie to help out with the grown-ups' bills.