Rep. Tom Reed, R-Corning, on Tuesday said he supported a 1.4 percent excise tax on certain college endowments funds. Reed also directed questions to the White House regarding comments President Donald Trump made Tuesday about Sen. Kirsten Gillibrand, D-N.Y. AP photo

U.S. Rep. Tom Reed is supporting a 1.4 percent excise tax on certain college endowments.

In a call with reporters Tuesday, Reed, R-Corning, said he supports the tax, which is included in both the Senate and the House tax reform bill. Reed said the excise tax will help raise the issue of where the money from the endowment funds are allocated.

The excise tax would impact schools that have endowment funds of over $250,000 per student and more than 500 students.

Reed said college costs are high, and this is one effort to try and make it more affordable. Reed said he believes it is possible to work with colleges to help reduce costs for students. He said lower costs for students will allow education to be more attainable for more people.

“I’m glad to see this is in the tax bill,” he said.

Reed said the tax reform bill is on the right timeline to head to the president Donald Trump’s desk before the end of the year. He said negotiations are underway, and there should be a vote next week.

While he has focused on those earning middle income salaries in regards to the tax reform bill, Reed said those in the lower income bracket will benefit from job growth and no tax increase.

Reed also responded to questions about sexual misconduct claims against Trump by saying he would defer to the White House, but mentioned that the claims had “been out there” and the voters had considered them while voting last year.

“I do trust the people,” Reed said.

Reed added this is a “watershed moment” regarding sexual assault and an “open and honest” conversation needs to take place.

Reed also applauded Sen. Kirsten Gillibrand, D-NY, for her work on bringing sexual assault and harassment into the open, but would not comment on a message by Trump on Twitter Tuesday morning that attacked Gillibrand.

“I’m not going to comment on interpreting those tweets,” Reed said.

Reed said getting into character assassination on either side was not productive.

On Tuesday morning, the president put out a tweet which called Sen. Gillibrand a “total flunky” for Sen. Chuck Schumer, and also discussed campaign contributions which Trump said Gillibrand would “do anything for them.”

In reply, Gillibrand wrote, “You cannot silence me or the millions of women who have gotten off the sidelines to speak out about the unfitness and shame you have brought to the oval office.”