Federal RuleAug 21
62
DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push
RuleLabor DepartmentFederal Contract Compliance Programs OfficeSignificant Wallet
119-s-936119th CongressWALLET
WEST Act of 2025
Sponsored By: Senator Cotton, Tom [R-AR]
Introduced
Summary
Creates a new 6% excise tax on very large private college and university endowments. This tax would apply to institutions whose non-exempt assets pass high size thresholds and would start for taxable years beginning in 2025.
Personalized for You
How does this bill affect your finances?
Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Higher one-time tax on large college endowments
This bill would create a one-time 6% excise tax on qualifying private college and university endowments. The tax would apply for each institution's first taxable year beginning in 2025. Tax equals 6% of the fair market value of aggregate assets measured at the end of the prior tax year. Do not count assets used directly for the institution's exempt purpose. Non-religious institutions would be covered if they have at least $11.9 billion in assets. Institutions that run a college for a State would be covered if they have at least $10.5 billion in assets. The bill would use existing rules in section 4968 to define assets and students.
Sponsors & CoSponsors
Sponsor
Cotton, Tom [R-AR]
AR • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov