![Jacobin | J Phelan/Wikimedia Commons](https://ifp.nyu.edu/wp-content/uploads/2024/02/1-242-1024x634.jpg)
Jacobin | J Phelan/Wikimedia Commons
Massachusetts state legislators are considering a groundbreaking bill that would impose a 2.5 percent annual excise tax on private college and university endowments that are larger than $1 billion. The resulting $2.5 billion raised each year would be more than enough to cover the tuition of every undergraduate student currently attending public colleges and universities in the state.