President Donald Trump has vowed he will strip Harvard University of its tax-exempt status.
Trump stated this on Friday in a post on Truth Social, saying it’s what Harvard deserves.
“We are going to be taking away Harvard’s Tax Exempt Status. It’s what they deserve!”; Trump wrote Truth Social.
The development comes barely weeks after Trump’s government froze $2.2 billion in federal grants to elite Ivy League schools.
Trump had accused them of refusal to help stamp out alleged antisemitism and hate on campus.
The President, at the time, had also floated the possibility of targeting the Cambridge university’s tax-exempt status if it continued to “push political, ideological sicknesses on its students”;.
DAILY POST reports that the tax-exempt status enables universities to receive hefty financial gifts from the country’s richest donors who want to decrease their tax burdens.
Harvad’s tax exemptions have been vital in aiding the elite school amass the nation’s largest university endowment at roughly $53 billion — from which it earned about $2.4 billion in the 2024 fiscal year.
