NAICU's University & College Accountability Network

Lawmakers Eye Williams Endowment

May 9, 2008

A possible move in the Legislature to tax wealthy educational institutions is being dismissed by a least one local official as opportunistic "plundering." The 2.5 percent annual assessment on endowments in excess of $1 billion would affect at least nine universities and colleges in Massachusetts, including Williams College. "I think it's a very bad idea. I think it's an opportunistic robbery attempt by the state Legislature," said Williamstown Town Manager Peter Fohlin. "It's unfair and ill advised."

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