Ivy League received $168 million from Congress during third round of ‘relief’ funding

Sophie Mann:

This week, our award is going to the United States Congress for allocating nearly $170 million  for emergency funding to be distributed among Ivy League universities, some with endowments larger than the total assets managed by some mid-size investment funds.

The most recent “coronavirus relief bill” cost just under $2 trillion, placing significant upward pressure on the already-skyrocketing national debt. The Biden administration’s opening salvo was criticized for being packed with spending only tenuously related to the pandemic, including $86 billion to bail out union pension funds and $1.5 billion for Amtrak (a pet cause of President Biden, dubbed “Amtrak Joe” during his Senate years for his daily rail commutes between Washington and his Wilmington, Del. home).

KEY FINDINGS:

1. Ivy League payments and entitlements cost taxpayers $41.59 billion over a six-year period (FY2010-FY2015). This is equivalent to $120,000 in government monies, subsidies, & special tax treatment per undergraduate student, or $6.93 billion per year.