Treasury Rules Could Thwart Sen. Mitch Mcconnell’s Bid to Protect Kentucky College From Endowment Tax

Senate Majority Leader Mitch McConnell (R) fought to shield Berea College in his home state of Kentucky from a hefty tax bill on its endowment. When an exemption that would have spared the school was removed from the GOP tax plan, McConnell successfully slipped it into the 2018 congressional budget deal. Now, his efforts are being undermined by proposed rules issued by the Treasury Department.