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Courier Journal: Senate Budget Bill Would Spare Berea College $1 Million Tax

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(Courier Journal) The Courier Journal is reporting that Berea College could be spared a $1 million a year tax on its $1 billion endowment under a proposed budget deal.

Senate Majority Leader Mitch McConnell and Senate Minority Leader Chuck Schumer announced the proposed two-year budget deal Wednesday. The paper reports that McConnell's office reported the senator insisted on including a provision to relieve Berea of the tax obligation. 

Under the proposed budget deal, any college with fewer than 500 tuition-paying students would be spared a tax on its endowment.  Berea President Lyle Roelofs said that Berea College has 1,600 students and all of them attend for free. 

Berea College provides free tuition to all students.

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