The Trump administration is proposing to remove the federal tax-exempt status of private schools that use race-based admission or diversity, equity and inclusion in certain school policies and programsThe proposed regulation by the U.S. Department of the Treasury and the Internal Revenue Service would cover admissions, scholarships and loans, athletics, educational policies and other programs administered or supported by private schools. While the regulation is still open to public comment, if finalized, it would apply beginning on May 31, 2027.The regulation would apply to tax-exempt private elementary and secondary schools, colleges, universities, professional schools and trade schools. The Treasury Department...