The state legislature is considering a bill that would impose a tax on huge endowments at private state colleges and universities.
The bill as written would tax endowments over one-billion-dollars at the rate of two and a half percent each year.
Harvard has an endowment of around 50-billion-dollars, and the proposed tax would cost the Cambridge school 14-billion-dollars over the next decade.
Bill supporters say the revenue would be used to improve public education in Massachusetts.
(Photo by Scott Eisen/Getty Images)
Photo: Scott Eisen / Getty Images News / Getty Images