Gov. Rick Scott of Florida saw opportunity in the Connecticut legislature’s proposal to levy a tax on income from Yale University’s enormous endowment. On Tuesday, the Republican issued a statement calling on the Ivy League institution to pick up stakes and move on down to sunny Florida.
“We would welcome a world-renowned university like Yale to our state and I can commit that we will not raise taxes on their endowment,” Governor Scott said, according to the Orlando Sentinel. “This would add yet another great university to our state.”
Connecticut lawmakers, facing a state budget shortfall, are mulling legislation that would tax Yale’s investment income. The university has come out squarely against the proposal, calling it a “specific attack on higher education.”
Yale’s $25.6-billion endowment has also been among the immense sums in the crosshairs of federal lawmakers. In February, two congressional committees sent requests to Yale and 55 other private colleges for more information about how they use their endowments. In their requests, the committees made reference to “the numerous tax preferences” from which the universities benefit.
The university’s spokesman, Tom Conroy, responded to the governor’s invitation in a statement to The Chronicle:
“It’s wonderful to be recognized as an outstanding asset, but Yale, New Haven, and Connecticut have been on common ground to great mutual benefit for 300 years. We’re looking forward to reaching even greater heights in education, research and civic engagement over the next three centuries and more.”Return to Top