Harvard’s Garber Warns of Damaging Impact From New Endowment Tax

A larger tax on Harvard University’s $57 billion endowment will hurt the school’s ability to address the very problems the US government wants it to focus on, said President Alan Garber.

“It’s quite damaging,” Garber said in an interview with Carlyle Group co-founder David Rubenstein for an upcoming episode of Bloomberg Television’s The David Rubenstein Show: Peer to Peer Conversations. “The tax is only going to make it harder to address these issues, not easier.”

Passed by the Republican-led Congress under the One Big Beautiful Act, the new tax requires some schools with ...