1. United States
2. Fla.
3. Letter

I write to urge you to oppose any proposal to increase the tax burden on university endowments. Such a measure would have far-reaching negative consequences for students, research, and the nation’s global leadership in innovation. The current endowment tax already places a growing financial strain on institutions of higher education. Further increasing this tax would reduce the funds available for financial aid, ultimately making college less affordable and accessible for students. At a time when the cost of higher education is already a concern for many families, penalizing the very resources that help mitigate that burden is counterproductive. Universities manage their endowments with long-term responsibility and a strong commitment to their educational and research missions. At Yale, for example, we spend aggressively from our endowment to support students and groundbreaking scholarship, distributing an amount equivalent to a quarter of the total endowment’s value every five to six years. This level of investment directly supports financial aid, faculty research, and campus programs that benefit society as a whole. Moreover, taxing university endowments undermines America’s position as a global leader in science and technology. It is research universities that drive fundamental breakthroughs—such as MRI technology, GPS, the internet, smartphones, and artificial intelligence—that have reshaped modern life and fueled economic growth. These institutions are also laying the foundation for future innovations in areas such as quantum computing, which will be vital for our economic competitiveness and national security. If the endowment tax is increased, the ability of our top research universities to contribute to these advancements will be severely diminished. We risk falling behind as other nations invest aggressively in higher education and research, positioning themselves to take the lead in the technologies of tomorrow. I respectfully urge you to reject any proposal to increase the endowment tax and instead work to strengthen the foundation of American higher education and innovation. Our future depends on it.