Trump to take away Harvards tax-exempt status: Its what they deserve!

President Trump on Friday said he is stripping Harvard University of its tax-exempt status.“We are going to be taking away Harvard’s Tax Exempt Status.It’s what they deserve!” he said in a Truth Social post.The move comes just weeks after the Trump administration froze $2.2 billion in multiyear federal grants over the elite Ivy League school’s refusal to help stamp out alleged antisemitism and hate on campus.At the time, Trump had floated the possibility of targeting the Cambridge, Mass., university’s tax-exempt status if it continued to push “political, ideological, and terrorist inspired/supporting ‘Sickness?’” on its students.“Remember, Tax Exempt Status is totally contingent on acting in the PUBLIC INTEREST!” he said.Tax-exempt status, which is decided by the Internal Revenue Service, enables universities to receive hefty financial gifts from the country’s richest donors who want to decrease their tax burdens.Harvad’s tax exemptions have been instrumental in helping the elite school amass the nation’s largest university endowment at roughly $53 billion — from which it earned about $2.4 billion in the 2024 fiscal year.Harvard could not be immediately reached for comment in the wake of Trump’s post....