United States 119th Congress Status: In Committee 3 R cosponsors

S 2045 — Protecting Endowments from Our Adversaries Act

Last action — Read twice and referred to the Committee on Finance.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced June 12, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Prognosis

Stalled 20% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 3 sponsors

    1 primary, 2 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (3 R).

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

How this bill changes current law

7 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

This bill introduces an excise tax on certain investments of private colleges and universities.

  • Internal Revenue Code of 1986, Subchapter H of chapter 42

    SEC. 4969. EXCISE TAX ON CERTAIN INVESTMENTS OF PRIVATE COLLEGES AND UNIVERSITIES.

    This section imposes a new excise tax on specific investments made by private colleges and universities.

  • Internal Revenue Code of 1986, section 4969

    (a) Tax on Acquisition of Listed Investments.--In the case of any specified educational institution which acquires (directly or indirectly through any chain of ownership) one or more listed investments during any taxable year, there is hereby imposed for such taxable year a tax equal to 50 percent of the fair market values of such investments determined as of the dates of such acquisitions.

    Imposes a 50% excise tax on the fair market value of listed investments acquired by specified educational institutions.

  • Internal Revenue Code of 1986, section 4969

    (b) Tax on Net Income From 1-Year Listed Investments.--There is hereby imposed on each specified educational institution for the taxable year a tax equal to 100 percent of the excess (if any) of--

    Imposes a tax equal to 100% on net income from 1-year listed investments for specified educational institutions.

  • Internal Revenue Code of 1986, section 4969

    (1) In general.--The term `listed investment' means any specified interest with respect to any person listed on one or more of-- (A) the Entity List maintained by the Secretary of Commerce, (B) the Military End User (MEU) List maintained by the Secretary of Commerce, (C) the Unverified List maintained by the Secretary of Commerce, or (D) the list maintained by the Federal Communications Commission of equipment and services covered by section 2 of the Secure and Trusted Communications Networks Act of 2019 (commonly referred to as the FCC Covered List).

    Defines what constitutes a 'listed investment' for the purposes of the new excise tax.

  • Internal Revenue Code of 1986, section 4969

    (1) In general.--The term `specified educational institution' means, with respect to any taxable year, any eligible educational institution (as defined in section 25A(f)(2)) which is not described in the first sentence of section 511(a)(2)(B) (relating to State colleges and universities), and the aggregate fair market value of the assets of which at the end of the preceding taxable year (other than those assets which are used directly in carrying out the institution's exempt purpose) is in excess of $1,000,000,000.

    Defines 'specified educational institution' that will be subject to the new excise tax.

  • Internal Revenue Code of 1986, Subchapter H of chapter 42

    Tax Based on Investment Income → Taxes Based on Investments

    Changes the heading of subchapter H to reflect a broader focus on taxes based on various investments.

  • Internal Revenue Code of 1986, Subchapter H of chapter 42

    (2) The heading of subchapter H of chapter 42 of such Code (and the item relating to such subchapter in the table of subchapters for such chapter) are each amended by

    Includes procedural changes to update headings in the tax code related to the new excise tax.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 544 not signed on

Sponsors (1)

Co-sponsors (2)

Not signed on (544)

544 members have not signed on to this bill.

Show all 544 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors S 2045?
S 2045 is sponsored by Cotton, Tom (Republican), Fischer, Deb (Republican), and Ricketts, Pete (Republican).
What is the current status of S 2045?
This bill is in committee in the Senate. Introduced June 12, 2025. It must pass committee before a floor vote.
Where can I track S 2045?
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