Senate Finance Committee member Charles Grassley (R-Iowa) said on Oct. 29 that he would like to see an upcoming higher education tax package include a base payout requirement for university endowments. According to staff, a possible provision would require university endowments to pay out at least 5 percent of their total worth or face a penalty, a change that would put them on a more level playing field with private foundations. Grassley attributes his goal to the increased college tuition rates.