Princeton, the richest university in the U.S., asks all departments to make plans for permanent 5-10% budget cuts, warns of possible lay-offs

Yikes! The linked article suggests the looming increase in endowment tax is the culprit, since Princeton would pay the highest rate: [The House bill] still uses the same $500,00 per-student threshold for the original 1.4 percent endowment tax, which was...