A new Republican-backed bill in Congress seeks to pressure elite private colleges to pull their endowment dollars from hostile Chinese entities by taxing those investments at a 100 percent rate.
Rep. Greg Murphy (R-N.C.) on Wednesday introduced the Protecting Endowments from our Adversaries Act, which encourages divestment from companies deemed hostile to the United States, including those advancing the interests of the Chinese Communist Party.
If passed, the bill would institute a 50 percent excise tax on the principal investment for all entities added to the U.S. government’s sanction list, such as the Commerce Department’s Entity List, and a 100 percent tax on gains realized from such investments….https://www.theepochtimes.com/c-us-politics

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