Hawley bill addresses multi-billion-dollar endowments

Wednesday, May 13, 2020
 | 
Bob Kellogg (OneNewsNow.com)

cash 100-dollar billA Republican senator is proposing legislation that prevents colleges and universities, which are sitting on massive endowments, from receiving federal money during the coronavirus crisis.

Sen. Josh Hawley wants to block schools with endowments of $10 billion or more from getting federal funds unless they first commit to spend money to assist students.

In a statement, Hawley said relief funds were intended for schools that need it, not wealthy universities that sit on huge endowments.

Jonathan Butcher of The Heritage Foundation says the senator’s argument is for Congress to create “proper protections” when spending taxpayers' money.

Harvard University, sitting on a $40 billion endowment, received $9 million in federal bailout funds but returned the funds under pressure. 

Stanford University, with a $22 billion endowment, announced it was returning approximately $7 million, ABC News reported in April. 

Reps. Jim Jordan of Ohio and Ben Cline of Virginia will sponsor companion legislation in the House.

Comments

We moderate all reader comments, usually within 24 hours of posting (longer on weekends). Please limit your comment to 300 words or less and ensure it addresses the article - NOT another reader's comments. Comments that contain a link (URL), an inordinate number of words in ALL CAPS, rude remarks directed at other readers, or profanity/vulgarity will not be approved. More details

FEATURED PODCAST

SIGN UP FOR OUR DAILY NEWSBRIEF

SUBSCRIBE

VOTE IN OUR POLL

Do you agree the virus pandemic has impacted our constitutional rights?

CAST YOUR VOTE

GET PUSH NOTIFICATIONS

SUBSCRIBE

LATEST AP HEADLINES

Memorial Day weekend draws crowds and triggers warnings
Slowly, surely, US houses of worship emerge from lockdown
White House imposes coronavirus travel ban on Brazil
Israel’s Netanyahu attacks justice system as trial begins
Desperate Indian girl bikes 745 miles home with disabled dad
Hong Kong police fire tear gas, water cannon at protesters
Taliban, Ghani declare three-day cease fire for Eid holiday

LATEST FROM THE WEB

Sen. Rick Scott: Bill of Rights allows Americans to worship at church service, no matter what gov't leaders say
Will Trump order sanctions on China's president for Hong Kong crackdown?
Beto O’Rourke mocks Texas governor’s reopening message – then hears back from Crenshaw, Cruz
Opinion — Newt Gingrich: On Memorial Day, we have a duty to honor Americans who died defending our country
Trump to attend Wednesday's NASA astronaut launch in Florida

CARTOON OF THE DAY

Cartoon of the Day
NEXT STORY
Liberal public school district drops sex-ed lessons - for now

Texas flagA conservative group that has repeatedly tangled with liberal educators in a Texas public school district reports a victory that will please concerned parents.