- Rep. Tom Reed (R-Corning)
WASHINGTON – Congressman Tom Reed (R-Corning, NY 23) has unveiled a new proposal that he says will make college education more affordable for middle class families.
Reed’s proposal would require colleges and universities with endowments larger than $1 billion to distribute a portion of that money as scholarships for students from working and middle class families or face heavy tax penalties.
The Corning Republican is also calling for increased transparency from institutions of higher learning by advocating for the expansion of salary disclosure requirements.
His proposal would require all colleges and universities that participate in federal student aid programs to publicly disclose the salary of any employee earning $200,000 or more.
Reed said that if a university can pay their employees well, they can probably also afford to make some adjustments in their spending to keep costs for students low.
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