President Trump has expressed intentions to strip Harvard University of its tax-exempt status, a significant move that could disrupt the schoolâs finances. Although the IRS typically requires a lengthy process to revoke such status and cannot be directed by the president, Trump's social media claims reflect a broader conflict with elite universities labeled as centers of antisemitism. Harvard officials argue that rescinding the exemption lacks legal basis and could jeopardize their educational mission, which also relies heavily on donations deductible by contributors.
"We are going to be taking away Harvard's Tax Exempt Status. It's what they deserve!" Trump wrote on social media.
A Harvard spokesperson said there was 'no legal basis to rescind Harvard's tax-exempt status' and that such an unprecedented action would endanger their educational mission.
Losing the status would not only force Harvard to start paying tax to the federal government but could cause donations to dry up.
The administration has painted many top U.S. universities as hotbeds of antisemitism and discrimination that require federal intervention.
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