Tom Cotton should go further: An endowment tax should not exclude big foundations

 Tom Cotton should go further: An endowment tax should not exclude big foundations

The largest private foundations should not be exempt from taxation as Congress debates extending the 2017 tax act.

Pressure in Congress is rapidly growing to respond to the Left-leaning tilt of universities by increasing the excise tax on their endowments. Theres no doubt that for legislators concerned about both…