Trump’s new endowment tax is already reshaping higher education

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Over the summer, the Trump administration held an unusual Independence Day celebration at the White House.

A live band warmed the crowd with renditions of Chaka Khan’s “Ain’t Nobody” and Pharrell Williams’s “Happy” before the president emerged from the first-floor balcony of the executive residence.

Supporters sporting red MAGA caps looked on as he signed the Big Beautiful Bill into law beneath the South Portico’s white columns. He flashed the document, showing his Sharpie signature, fulfilling several campaign promises, including what he called the largest tax cuts in the country’s history: “We’ve delivered no tax on tips, no tax on overtime, and no tax on Social Security for our great seniors.”

Read more at The Nation.

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