Over the past decade, researchers have found support for the endowment effect in many experiments.
Several GOP lawmakers expressed their support for the endowments after Trump's bold proposal that they be eliminated entirely.
In March, PEN America executive director Suzanne Nossel and Stephen Kidd, executive director of the National Humanities Alliance, each cited a February letter sent by Sen. Kirsten Gillibrand (D-N.Y). to the president advocating for continued support of the endowments.
The next year, House Republicans threatened to cut off funds for the endowment, supported by Mrs. Cheney and her predecessor at the endowment, William Bennett.
Her arguments were mostly macroeconomic (why disinvest when society still buys the companies' products?) and financial (the endowment supports school operations, scholarships and much more), although she also wrote that an endowment shift "would appear to position the University as a political actor rather than an academic institution".
"To use the endowment in support of other missions is not appropriate.
The remainder would be placed in an independent endowment fund and Fisk would be allowed to use only about $1 million of income from the endowment to support the collection, which was donated to the university about 50 years ago.
Most universities pay out a certain percentage of the endowment to support the budget each year, but that payout can be changed, usually by a vote of the trustees.
He courted Representative Dick Armey of Texas, the Republican majority leader in the House, by telling him of the endowment's support of The Handbook of Texas, a five-volume encyclopedia of the state.
The endowment will support the "invention or implementation of entirely new technologies that will have a major impact on a field of research," and could also be used for the acquisition of new equipment that will "change the direction of research in a field," Princeton explained in a press release.
