“Our work is the starting point for all the investigations that are now needed to confirm and understand the implications of these exciting findings,” said co-author Savvas Constantinou, also from Cambridge’s Institute of Astronomy.
Centrist and conservative Republicans in the Senate are divided on the bill. House Speaker Mike Johnson has urged Republican senators to revise it as little as possible. If Senators pass a revised version, the House will need to vote on that new text for it to be passed onto Trump, who will then sign it into law.Wisconsin Republican Senator Ron Johnson has opposed the bill in its current form, arguing it will increase the national deficit, which is the difference between the amount of money the federal government spends and the amount it earns through revenue. Johnson said the House bill would add “$4 trillion” to the deficit. In 2024, the deficit was $1.83 trillion.
Republican Kentucky Senator Rand Paul raised similar concerns during a Fox News interview on May 25, saying while he supports parts of the bill, it would “explode the debt”.But if the bill does pass and is signed by Trump, “it will apply to all colleges and universities” that meet the conditions set in the legislation, Saulnier said.How have universities reacted?
“This legislation presents a greater threat to Yale than any other bill in memory,” Yale President Maurie McInnis said in a statement released on May 22.“The endowment tax places more financial burden on students by making college less affordable. Taxing schools reduces the revenue available for financial aid,” she wrote, adding that “the endowment tax will undermine the country’s global leadership in technology.”
During a faculty meeting in 2024, Harvard President Alan M Garber called a raise in endowment taxes “the threat that keeps me up at night”.
How did we get here?Despite White House claims about its efficacy, the extent of DOGE’s cost-savings has remained foggy.
As of Friday, the panel claimed it had achieved an estimated $175bn in savings, made up of “asset sales, contract/lease cancellations and renegotiations, fraud and improper payment deletion, grant cancellations, interest savings, programmatic changes, regulatory savings, and workforce reductions”.But DOGE’s transparency and methodology have been repeatedly questioned. The only accounting made available to the public adds up to less than half of the claimed figure.
published on Friday by the news agency Reuters also suggests the actual sum is much lower. Using US Treasury summaries, Reuters found that only $19bn in federal spending had been cut, though it noted that some savings may require more time to be reflected in the Treasury Department’s data.Regardless, all of those figures fall far short of the goal of $2 trillion saved that Musk initially set out to achieve.