Senate Stimulus Bill Would Expand Loans for Charities but Omits Other Nonprofit Priorities

Senate Stimulus Bill Would Expand Loans for Charities but Omits Other Nonprofit Priorities

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The Senate Republicans' new economic stimulus bill would allow some nonprofits to apply for a second round of Paycheck Protection Program loans and provide other benefits to charities, according to a preliminary analysis by the National Council of Nonprofits.

While nonprofits cheered the addition of loans, many advocates were frustrated that the Senate rejected any effort to add charitable-giving incentives in the new measure.

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A coalition of more than 4,000 nonprofits from across the country sent a letter to Congress urging expansion of the Paycheck Protection Program and increasing the universal deduction to one-third of the standard deduction and extending it through 2021.

Source Name: 
The Chronicle of Philanthropy
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