Senate Tax Bill Keeps Johnson Amendment Intact

Senate Tax Bill Keeps Johnson Amendment Intact

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David Thompson, vice president of public policy for the National Council of Nonprofits, said that it is unclear how many potential donors will be impacted by the increased exemption amount in the Senate bill and its impact on giving. Senators, behind the scenes, varied in position from a full repeal of the estate tax to a stricter bill — the final Senate bill representing a compromise.

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Though the Senate bill is applicable to fewer schools, the impact is still potentially dangerous, Thompson said. An individual contemplating giving a gift to his or her alma mater might, instead, choose to give to his or her spouse’s alma mater or the local soup kitchen as opposed to giving to the university and having some of those dollars taxed.

“It’s Congress saying that these schools have enough money,” Thompson said. “It’s Congress saying who is most deserving and that is not for Congress [to say].”

Source Name: 
The NonProfit Times
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