The Trump presidency has been closely watched by the Ivy League establishment over its handling of anti-Israel demonstrations and claims that it has failed to stop hatred on campus. The leader has been making fun of the school’s tax-exempt position for a while, but he said he would do it firmly in a Truth Social post on Friday night.
” We are going to get removing Harvard’s Tax Exempt Status.” It’s what they merit,” they claim. Trump stated.
Harvard is tax-exempt because it meets the IRS’s requirements for” generous, religious, educational, scientific, artistic, testing for public health, fostering national or international amateur sporting competition, and preventing violence to babies or pets,” which may qualify for tax deductions.
Trump has stated that the university’s tax-exempt status may be revoked, but a area of the IRS tax code forbids primary requests from the president or other professional branch officers. Legal experts also expressed concern that Harvard had no longer be tax-exempt, but they also said they thought the college might experience the suspension of federal funding and grants.
With its tax-exempt standing, Harvard has been able to amass a$ 50 billion endowment.
CAN TRUMP’S IRS REVOKE HARVARD AND DO IT HAVE A TAX-EXEMPT STATUS?
Trump made the announcement on Truth Social after speaking at the University of Alabama’s initiation on Thursday night and anticipating that those graduates would write the next generation more than Harvard graduates.
” Thanks to the Alabama school of 2025, standing before you in this wonderful arena. It is obvious that Harvard Crimson won’t be the author of the next chapter of the American history. You, the Crimson Tide, may write it, Trump said. They receive$ 5 billion annually. That won’t get thus forthcoming.
