Geee Posted January 25 Share Posted January 25 Real Clear Policy Among the over $16 billion worth of earmarks included in the $1.7 trillion omnibus spending bill, New York Congressman Jerry Nadler gave Columbia University almost $3 million to address climate change, despite the Ivy League university’s endowment growing to $13.3 billion. Earmarks are special funding mechanisms that allow federal lawmakers to designate money for local projects in their states or districts. Dubbed “the currency of corruption,” earmarks were once banned but legislators voted to bring them back in 2021. The grant is for the purpose of “addressing climate challenges to agriculture and water quality in the New York City watershed.” While this may be a laudable goal, there are two problems. First, Columbia University is one of the richest institutions in the world, with an endowment of $13.3 billion, while it charges students $65,000 in annual tuition. It also pays no taxes because of its nonprofit status. Link to comment Share on other sites More sharing options...
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