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Home > Trump Tax Proposal Could Threaten Libraries

Trump Tax Proposal Could Threaten Libraries

November 3, 2017 Publication: Publishers Weekly | Posted in:
Tags: 
Tax Reform
Charitable Deduction
Libraries
Council of Nonprofits in the News [1]

For library advocates, the everlasting battle for support on Capitol Hill has entered a new and dangerous phase with introduction of President Trump’s tax cut proposal this week. After staving off Trump’s budget proposal to eliminate all federal library funding [2], the GOP's bid to “simplify” the tax code could have a more serious, and systemic effect on libraries. In a release this week, the National Council of Nonprofits warned  [3]that charitable deductions—which libraries benefit from—are likely to go down dramatically under this bill, as many middle and upper-middle-class families would no longer itemize their deductions, and thus would lose their tax deduction.

At the ALA’s National Legislative Day in May, outgoing executive director Emily Sheketoff warned librarians [4] to stay engaged with their local legislators. “If a tax bill goes through,” she said, that means less money [for libraries].”

Source Name: 
Publishers Weekly
Source Link: 
https://www.publishersweekly.com/pw/by-topic/industry-news/libraries/art... [5]

Source URL: https://www.councilofnonprofits.org/article/trump-tax-proposal-could-threaten-libraries?page=1

Links
[1] https://www.councilofnonprofits.org/article-categories/council-of-nonprofits-the-news
[2] https://www.publishersweekly.com/pw/by-topic/industry-news/libraries/article/74779-house-votes-to-save-library-funding-nea-and-neh.html
[3] https://www.councilofnonprofits.org/article/winners-and-losers-the-gop-tax-plan
[4] https://www.publishersweekly.com/pw/by-topic/industry-news/libraries/article/73517-librarians-take-capitol-hill.html
[5] https://www.publishersweekly.com/pw/by-topic/industry-news/libraries/article/75282-the-week-in-libraries-november-3-2017.html