The Trump administration has formally asked the IRS to revoke Harvard University's tax-exempt status. The request followed a social media post by Trump accusing the school of promoting what he called political, ideological, and terrorist-inspired or terrorist-supporting sickness,” according to The Hill. The request was sent on Wednesday by the Treasury Department to the IRS’s acting chief counsel and comes after Harvard declined to comply with new federal requirements tied to over $2 billion in grant funding. The university also risks losing nearly $9 billion more in federal support over its refusal to cut diversity programs and screen international students for ideology.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Trump administration has formally asked the IRS to revoke Harvard University's tax-exempt status.
00:07The request filed a social media post by Trump, accusing the school of promoting what he called
00:11political, ideological, and terrorist-inspired or terrorist-supporting sickness, according to The Hill.
00:18The request was set on Wednesday by the Treasury Department to the IRS's acting chief counsel.
00:23It comes after Harvard declined to comply with new federal requirements tied to over
00:27$2 billion in grant funding.
00:30The university also risks losing nearly $9 billion more in federal support over its refusal
00:35to cut diversity programs and screen international students for ideology.
00:39For all things money, visit Benzinga.com slash GSTV.