Jamie Beaton

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Treasury proposes rule to strip tax-exempt status from schools with race-based programs

Warning of a drop in charitable giving to affected schools

The Treasury Department proposed a rule on September 3 that would end federal tax-exempt status for private schools and colleges that give students any benefit based on race. The Internal Revenue Service estimates 18,000 institutions could be affected, along with 750,000 students holding race-based scholarships.

Updated 1 hour ago