JD Vance Introduces 50% Excise Tax Bill on University Endowments

The "J.D." in Senator JD Vance's name must stand for "just dumb," because yesterday the Yale Law graduate introduced a bill that is just dumb.  The bill would withdraw all federal support from Universities and tax their endowments at 50% if they fail to stop student protests and shut down encampments.  Just plain dumb.  And I wish I had never watched and enjoyed Hillbilly Elegy.  Here is the press release with a link to the bill:

Senator JD Vance (R-OH) has introduced the Encampments or Endowments Act to prohibit colleges and universities from receiving federal financial assistance if they fail to remove disruptive encampments from their campuses. 

“We cannot allow people who hate our country to turn campuses into garbage dumps,” said Senator Vance. “My legislation will force colleges to follow the law, protect their students, and shut these encampments down. If they refuse, they’ll pay a hefty price. It’s time to end this national embarrassment.”

Senator Vance’s legislation would require colleges to remove encampments from campus grounds within 7 days if teaching, research or other core institutional functions are impeded. Institutions that fail to comply would be rendered ineligible to receive federal financial assistance, including institutional aid and student aid such as Pell grants and federal loans, for five years. To make students whole, institutions would be mandated to provide students with equivalent grant-based aid at the institution’s expense. If an institution fails to provide such aid, it would face a tax equal to 50% of its endowment assets.

This is the second bill this week seeking to get money from university endowments.  It really is a sad state of affairs when a key vice presidential qualification involves proving to the presumptive nominee just how dumb you can be.  You can read the bill for yourself.  I won't read it again. I felt like taking a shower the first time.  I should just stop wasting any more time with these dumb bills.

darryll k. jones