Update: The Continuing Threat of Tax Reform on Nonprofits This Year

The Association Societies Alliance (ASA), of which FSAE is an active, engaged member, in collaboration with ASAE is closely following the threats currently expected by the new Congress and administration against the nonprofit community. All 501(c) organizations still remain under threat. View Tax Reform article in Nov/Dec Source

UPDATEOn Jan. 7, 2025, ASAE held a webinar focused on the tax reform issue. From this call, we have learned:

  • The trifecta capture of the Senate, House and the presidency increases the likeliness that tax reform threats to nonprofits will require attention from industry advocates to better educate lawmakers about the valuable work they do for their communities.
  • Originally, we had heard that the Senate and the House would attempt to pass separate legislation that would address tax reform, energy policies, border security and healthcare. It now appears that the president-elect wants one "big, beautiful bill" that tackles all of these challenges at once.
  • House Ways and Means Committee Chairman Jason Smith (R-MO) wants to take advantage of Republicans' majority control of the House, which could end in 2026, Senate and White House to pass one big package of conservative priorities. House Republicans will be navigating a slim margin in the 119th Congress and are convinced it would be easier to get tax changes through their chamber if it’s tied to hot-topic immigration and energy provisions.

We continue to hear that the new administration still wants to propose this bill within the first 100 days of office or at least by Memorial Day. The administration wants a more complex bill, which may give us more time to defend the industry, we cannot be comfortable.

HOW TO GET INVOLVED

Read the Nov/Dec Source Article on Tax Reform Issue

Access the FSAE January Legislative Session & Advocacy webinar recording - free for FSAE Members

Information provided via ASA, OSAP and ASAE

 

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