House Republicans propose higher taxes on university endowments to pay for Biden’s student loan relief

EXCLUSIVE: A group of House Republicans is introducing legislation to increase taxes on university endowments to ensure taxpayers do not have to foot the bill for President Biden’s more than $500 billion in student loan debt forgiveness.

Rep. Dave Joyce, the chairman of the moderate 44-member Republican Governance Group, told Fox News Digital the legislation is designed to hold higher education institutions accountable for the skyrocketing cost of a college degree.

“America’s elite universities are the silent beneficiaries of President Biden’s misguided student debt bailout,” said Joyce, R-Ohio. “These institutions need to be held accountable for their role in our nation’s

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