TRADES Act

This bill would raise one tier of the federal excise tax on the net investment income of certain private colleges and universities from 8 percent to 15 percent. Each year, the Treasury would transfer to state career and technical education grants under the Carl D. Perkins Act an amount equal to the extra revenue raised by this increase in the prior 12 months. This money would be in addition to existing funding for the program. The tax change would apply to taxable years beginning more than 12 months after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Ashley Moody Republican sponsor
• 0 cosponsors