On Monday’s broadcast of the Fox Business Network’s “Kudlow,” former Trump Economic Adviser Stephen Moore said that there should be tax cuts in the reconciliation bill and suggested using a tax on university endowments as a pay-for.
After host Larry Kudlow said [relevant remarks begin around 3:05] that a reconciliation package should include some tax reform, Moore said, “Yeah. No question.”
Moore added, “I’m in total agreement with you. If we’re going to do this new reconciliation bill, let’s do indexing of capital gains for inflation, let’s do all the things you were talking about, and let’s pay for it — I don’t know, Arthur, what you think about this one — but a 15% surcharge tax on these $1 trillion of university endowments. How about that?”
Moore then laughed. And agreed with Art Laffer’s suggestion of getting rid of 501(c)(3) status for universities.
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