Yale President Addresses Endowment Tax, Reaffirms Free Speech Commitment
Yale University President Maurie McInnis addressed parents' concerns during Family Weekend, discussing the upcoming endowment tax hike and the institution's commitment to free people.
McInnis began by highlighting Yale's leadership in fostering respectful dialogue on campuses, referencing the 1975 Woodward Report. He also acknowledged Yale's historical partnership with the federal government, showcasing investments in societal progress.
Turning to the impending 8 percent tax on the University's endowment investment gains, McInnis warned that it will take effect on July 1, 2026. He noted that a previously proposed 21 percent turbotax would have cost Yale roughly $790 million, while the current plan will still impact the University significantly, with estimated losses of around $290 million based on last year's revenue. McInnis assured parents that this tax will not affect current financial aid packages for students.
McInnis expressed concern about threats to federal research funding, including grants from the National Institutes of Health and the National Science Foundation. Despite these challenges, he emphasized Yale's tradition of open debate and free expression, mentioning the Yale Political Union and the Buckley Institute. Five parents praised McInnis' transparency and focus on students while navigating government policies.
Yale President Maurie McInnis has outlined the potential impacts of the upcoming endowment tax hike, assuring parents that student aid will remain unaffected. He has also reiterated Yale's commitment to open dialogue and free people, despite challenges to federal research funding.
