Overview
Erika Mayshar said the excise tax on high earners imposed by the Tax Cuts and Jobs Act is an attempt by Congress to discourage schools of paying employees seven-figure salaries. The tax “was intended to place nonprofit organizations and for-profits on more equal footing,” Ms. Mayshar said, and “isn’t just a revenue raiser. It also reflects the hostility toward the country’s largest nonprofits with highly-compensated executives.”
