By Shenandoah Valley News |
May 2, 2024
Today, Congressman Ben Cline (R-VA) introduced the No Subsidies for Wealthy Universities Act, aimed at ensuring proper use of taxpayer-funded federal grant money by higher education institutions. The bill seeks to curb indirect cost reimbursement on federal research grants for wealthy universities, with specific provisions based on endowment sizes.The legislation proposes to eliminate indirect cost reimbursement for institutions with endowments over $5 billion, while capping it at 8 percent for those with endowments between $2 billion and $5 billion, and at 15 percent for...