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Trump Seeks to Revoke Harvard’s Tax-Exempt Status as Feud Grows
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May 2, 2025
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3:05Now PlayingPresident Donald Trump declared that Harvard University would lose its tax-exempt status, stepping up his attack on the Ivy League school by threatening to choke off an array of financial benefits. Trump made the announcement after weeks of threatening a change to the school’s tax-free treatment.
“We are going to be taking away Harvard’s Tax Exempt Status. It’s what they deserve!” Trump wrote in a post early Friday morning.
Conservatives have targeted Harvard and other elite universities in recent years over accusations of ideological bias and allegations of a rise in antisemitism amid campus protests against the war in Gaza. Trump and other Republicans have accused the institutions of promoting liberal agendas and so-called “wokeness.”
The White House, IRS and Treasury Department did not immediately respond to a request for comment.
“The government has long exempted universities from taxes in order to support their educational mission,” a Harvard spokesperson said in an emailed statement. “There is no legal basis to rescind Harvard’s tax-exempt status.”
The school said that the action would result in diminished financial aid for students and the abandonment of critical medical research programs. “The unlawful use of this instrument more broadly would have grave consequences for the future of higher education in America,” the statement said.
Adam Posen, president of the Peterson Institute for International Economics, examines Trump's impact on the global order and responds to his alma mater coming under attack from the White House. Dr. Posen speaks with Tom Keene and Paul Sweeney on Bloomberg Radio.
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