HARTFORD, CT -- A tax proposed by top legislators on the earnings of Yale's sizable endowment was shot down Tuesday by the administration of Gov. Dannel P. Malloy.
NEW HAVEN, CT -- Facing staggering budget deficits, prominent state legislators and city mayors are eying nonprofit colleges as a lucrative revenue stream. While officials at Yale University call legislation that would implement a new tax on the growth of its endowment an "attack on independent higher education," legislative heavyweights backing the bill say its just forcing the Ivy League school to be a good neighbor.
NEW HAVEN, CT -- Yale University’s endowment earned $2.6 billion in investment gains in fiscal 2015. A proposed bill in the Ivy League school’s home state of Connecticut is eyeing a share of the bounty as a source of revenue. Schools with funds of $10 billion or more -- affecting Yale only -- could face a tax on endowment income, according to legislation introduced this month. Yale’s record $25.6 billion fund is the second largest in U.S. higher education, behind Harvard University’s $37.6 billion.
NEW HAVEN, CT -- The Yale News article describes how Yale University, as a good neighbor, supports the city of New Haven with investments in businesses and schools, a voluntary $8.2 million payment to the city, contributions for a strong tax base.
HARTFORD, CT — Faced with hundreds of millions of dollars of red ink and shrinking state income tax revenue, some state lawmakers have set their sights on Yale University's $25 billion endowment as a source of new money.
HARTFORD, CT -- As hospital officials describe it, state policy is pushing them in two opposing directions. The state has, in the past five years, increased the net taxes hospitals pay by close to $400 million while reducing Medicaid reimbursement rates for certain services. Hospital leaders say that financial strain adds to the factors pushing independent community hospitals to join larger health systems.