Search Results: keywords:"university endowments"

  • S. 3465 — To amend the Internal Revenue Code of 1986 to apply a 6 percent excise tax on large endowments of certain private colleges and universities, and for other purposes.
    💰
    Status:Introduced in Senate
    Words:566

    The Woke Endowment Security Tax Act of 2023, or WEST Act of 2023, proposes amendments to the Internal Revenue Code to introduce a 6% excise tax on large endowments held by certain private colleges and universities. Specifically, this tax will apply to private...

    Simple Explanation

    The WEST Act of 2023 wants certain big colleges with lots of money saved up to pay a special tax of 6%, so they use their money to help students more. It's like a rule that says, "Hey, if your school is super rich, some of that money should go into helping everyone learn!"

  • S. 4247 — To establish Federal research award reimbursement limits for indirect costs for institutions of higher education, and for other purposes.
    💰
    Status:Introduced in Senate
    Words:1,324

    The No Subsidies for Wealthy Universities Act aims to limit federal research award reimbursement for indirect costs at higher education institutions. It requires the collection of data on university endowments and prohibits the use of federal research funds for indirect costs...

    Simple Explanation

    The No Subsidies for Wealthy Universities Act is like a rule that says big universities with lots of money can't use government research money for extra costs, like keeping their buildings and offices running. Instead, they have to spend their own money for those things so the government can help smaller universities more.

  • H. R. 8316 — To establish a program of workforce development as an alternative to college for all, and for other purposes.
    💰
    Status:Introduced in House
    Words:7,926

    H.R. 8316, also known as the “American Workforce Act,” aims to create a national program for workforce development as an alternative to college. This program focuses on providing paid, full-time job positions that include structured on-the-job training and educational...

    Simple Explanation

    H.R. 8316 wants to help people get good jobs without going to college by creating a program where they can work and learn at the same time. It also plans to get money for this program by taxing big college funds, but some people are worried it might not be fair or enough to cover the best training.

  • H. R. 422 — To establish Federal research award reimbursement limits for indirect costs for institutions of higher education, and for other purposes.
    💰
    Status:Introduced in House
    Words:1,360

    The bill H.R. 422, titled the "No Subsidies for Wealthy Universities Act," aims to set limits on the amount of money that universities can claim for indirect costs when they receive federal research grants. Specifically, it targets institutions with large endowments, stopping...

    Simple Explanation

    The bill says that if a university is really rich and has lots of money saved up (over $2 billion), they can't get as much leftover money back from the government when they do research projects. This way, the government gives more leftover money to schools that aren't as rich, trying to be fair.