Article From: "Max Stendahl"   Read full article

The tax reform bill passed by Congress this week includes a provision that targets investment income at the nation’s richest colleges, including MIT and Harvard University, whose presidents railed against the measure on Wednesday.

The legislation, which is now awaiting President Trump’s signature, will levy a 1.4 percent excise tax on investment returns at private colleges with at least 500 students whose endowments are valued at more than $500,000 per student. The provision is expected to affect…