Many of the richest universities in the country, sitting on billions of dollars in tax exempt endowments, receive through the tax laws government subsidies that greatly eclipse the appropriations received by public colleges. Hidden tax subsidies that increase inequality are not good policy. In contrast, Senate Bill 413 is reasonable in scope, fair in its goals, and represents advancement well within the current public policy thrust aiming to reassess the tax codes to help address America’s need for an educated citizenry and a qualified workforce.
