Tax Bill Targets Nonprofits

(from the Associated Press) A proposal by Republicans in Congress would allow President Donald Trump’s administration to remove the tax-exempt status of nonprofits that it says support terrorism, creating what some nonprofits say is an arbitrary standard to financially punish charities that advocate for issues that don’t align with his agenda. The definition and criteria for determining whether or how an organization supports terrorism are unclear. 

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(From the Washington Post) House Republicans are proposing a steep tax increase on endowment income at the nation’s wealthiest colleges and universities, adding to the financial strain of institutions already facing the Trump administration’s sharp cuts to federal research funding.  Instead of the current 1.4% tax on the net investment income of private schools with an endowment of more than $500,000 per student, House Republicans want to raise that tax as high as 21%.

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