Via National Council of Nonprofits
Nonprofits Under Threat: What’s in the House Tax Bill and How You Can Help
After 16 hours of debate, the House Ways and Means Committee voted this morning to approve draft tax legislation, which is the core of a major tax reconciliation package that Republicans hope to enact by summer. The tax bill includes several harmful provisions opposed by NCN that would, if enacted, threaten the entire nonprofit sector. The bill grants unprecedented authority to the executive branch to revoke nonprofit tax-exempt status from organizations without full evidence or due process, and it increases taxes on foundations and other nonprofits.
The bill also includes a provision supported by NCN to incentivize charitable giving by creating a non-itemizer deduction. For more information, read NCN’s full analysis of the tax bill and its impact on charitable nonprofits.
The bill now heads to the House floor for a vote as soon as the week of May 19. After passage in the House, the bill will go to the Senate for consideration. Congressional leaders set a goal of July 4 for final passage of the tax bill.
