House Committee Wants Harvard Endowment, Foundation Money Out Of China

The senior members of the newly formed House Select Committee on the Chinese Communist Party (CCP) introduced legislation last week that will force college endowments and foundations to divest from China. It is the latest in a series of pronouncements from Washington this summer that targets investor capital going to Chinese companies.

The bill, called the Dump Investments in Troublesome Communist Holdings Act (aka the DITCH Act), prohibits university endowments, public pension plans, and any other tax-exempt entity from investing in Chinese companies. If they choose to do so, they lose their tax-exempt status.