Gubernatorial Candidate Proposes Endowment Tax

Jay Gonzalez, the Democratic candidate for governor in Massachusetts, has proposed to tax private college endowments worth at least $1 billion to pay for various transportation and education initiatives, WBUR reported. The federal endowment tax was largely backed by Republicans, with critics saying it would be particularly damaging in Democratic-leaning states. Indeed, the Gonzalez plan -- already being opposed by private colleges in the state -- would hit nine colleges in Massachusetts.