Yale University warned staff this week that it expects to pay roughly $300 million annually in new federal endowment taxes and is preparing cost reductions that could include workforce cuts. Provost Scott Strobel, CFO Stephen Murphy and Senior VP Geoffrey Chatas told campus leaders the expense exceeds Yale’s undergraduate financial-aid budget and will force hiring freezes, travel cuts and other austerity measures through 2026 unless circumstances change. The message cited the Republican tax package that creates an upper 8% levy on investment income for the wealthiest endowments and flagged parallel risks from proposals to cap federal reimbursement for research overheads. University leaders said grant funding remains robust for now but that sustained policy shifts at the Education and Justice departments would compound financial pressure on research and operations.