Tax reform efforts are moving quickly in Washington, with potentially adverse impacts on the nonprofit sector – in our community, and nationally. Here’s what you can do right now. #protectgiving
According to Jason Lee, Chair of the Charitable Giving Coalition, tax reform efforts are moving quickly in Washington, with potentially adverse impacts on the nonprofit sector — in our community, and nationally.
Specifically, doubling the standard deduction threshold would dramatically reduce the number of taxpayers who benefit from charitable deductions. In turn, reducing the amount of charitable gifts that taxpayers deduct by nearly $100B would most certainly result in a dramatic loss in charitable giving with significant, negative consequences for charitable organizations and the communities they serve.
Learn more from the Council of Foundations and the Independent Sector, and lend your voice as the tax reform proposal continues to progress.
To make an immediate impact TODAY…
Per the Colorado Association of Funders (CAF), reach out today to our U.S. Senators and Representatives on the tax reform debate currently happening on Capitol Hill:
- Contact Sens. Bennett and Gardner to urge them to support an amendment to the Tax Cuts and Jobs Act offered by Sens. Wyden (D-OR) and Stabenow (D-MI) that would provide for a universal charitable deduction, allowing taxpayers who do not itemize their deductions to take an above-the-line deduction for charitable contributions, subject to limitations. Call the U.S. Senate at 202.224.3121 and find other contact information here.
- Contact your Representative (202.225.3121) and urge him or her to vote NO on the House Tax Cuts and Jobs Act (H.R. 1). CAF and its national network oppose this legislation because it would cause serious harm to the charitable sector, both through the loss of charitable giving and the interjection of politics into the sector. Find your U.S. Representative here.
Our collective, unifying goal is to ensure that our Boulder County communities and nonprofits remain strong, diverse, and effective. Together, we accomplish more than we do alone.
For 26 years, the Community Foundation Boulder County has been a community catalyst, responding to immediate needs and anticipating future challenges. Through informed decision-making, we inspire ideas, ignite action and mobilize diverse resources to improve the quality of life for everyone in Boulder County. As a collaborator and convener, we promote inclusivity and provide leadership on key issues, working with community-minded individuals and organizations that want to make a difference.
