Communications on Endowment Excise Tax
In 2017 Congress passed the Tax Cuts and Jobs Act, which included a new 1.4 percent excise tax on the investment earnings of private colleges and universities with endowments worth $500,000 or more per full-time student. Washington and Lee is one of about 30 colleges and universities that are subject to the tax. The university has kept the W&L community informed of this legislation and its implications for the university and its budget and has also coordinated efforts to communicate our concerns about the tax to members of Congress.
- Memo to the W&L Community from Steve McAllister, Vice President for Finance and Treasurer (Nov. 17, 2017)
- Roanoke Times' story, "Proposals to tax investments concerns some private college" (Dec. 7, 2017)
- Letter to the W&L Community from President Will Dudley (Jan. 2, 2018)
- President Dudley's Washington Post Op-ed, "Taxing Washington's Legacy" (Jan. 17, 2018)
- President Dudley Joined 49 College and University President in a Letter Opposing the Tax (March 7, 2018)
- President Dudley Joined 13 Presidents of Smaller Colleges in a Letter Opposing the Tax (March 9, 2018)