CAMBRIDGE, MASS. (WHDH) – According to CNN, the IRS is preparing to revoke Harvard University’s tax exempt status.
This comes on the heels of the billions of dollars in federal funding that was taken away from Harvard on Tuesday.
Taking to social media, President Donald Trump wrote, “Perhaps Harvard should lose its Tax Exempt Status… if it keeps pushing political, ideological, and terrorist inspired/supporting “Sickness?””
The news could be a blow to the University’s $53B endowment, the largest in the country. That money that comes from charitable contributions, which currently aren’t taxed, but could be.
“We’ll see what IRS comes back with relative to Harvard,” said Linda McMahon, Secretary of the Education Department.
The incident began when The Trump administration ordered Harvard to make sweeping changes on campus, but the school refused.
The White House then froze more than $2 billion in federal grants. Much of that money funds scientific and medical research.
Wednesday morning, Trump took to social media, writing in part, “Harvard is a JOKE, teaches Hate and Stupidity, and should no longer receive Federal Funds.”
“Harvard’s ‘telos,’ what is stamped upon its crest is the word truth,” said Massachusetts Representative Jake Auchincloss. “And in pursuing truth, it has to be free from politics. It has to be free from the progressive orthodoxies of the left, and in recent years it has been captured by those, and it also has to be freed from the authoritarian impulses of the right.”
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