Today, Congressman Peter Welch and I held a roundtable discussion about college endowments. We hosted leaders from colleges and universities, education associations and the IRS. We want to foster the discussion about how to deal with rising tuition costs. Making sure tax-exempt endowments meet the spirit of tax-free status may offer opportunities in that area. Many tax-free endowments for colleges and universities have been growing to massive amounts. Since a Senate Finance Committee hearing about a year ago put the spotlight on whether tax-free endowments are helping to provide as much education as possible, some colleges and universities have begun to use a larger portion of their endowments to help with tuition costs for students. I appreciate those initiatives, and as Ranking Member of the Senate Finance Committee which oversees tax laws, today's roundtable discussion will continue to help me have a better understanding of whether the tax laws in place are up to date or whether changes need to be made.