Minnesota nonprofits, foundations come out against House tax plan

Minnesota nonprofits, foundations come out against House tax plan

Printer-friendly version

The sweeping tax overhaul proposal in the U.S. House may be a boon for business with its rate cuts, but it could have devastating consequences on the nonprofits by lowering incentives for charitable giving, according to two influential Minnesota philanthropic councils.

The Minnesota Council of Nonprofits and the Minnesota Council on Foundations both came out forcefully Friday against the tax plan, which an Indiana University study said could result in a decline from $4.9 billion to $13.1 billion in charitable giving across the country.

Source Name: 
Star Tribune
Find Your State Association of Nonprofits

Find Your State Association of Nonprofits

Connect with local resources and expertise

Find

Connect With Us

1. Sign up for updates

Stay up-to-date with the latest nonprofit resources and trends by subscribing to our free e-newsletters.

2. Follow us on social media