Are We Looking at a Death Tax on Charitable Giving?
On December 31, Fox Business published Philanthropy Roundtable Senior Executive Fellow Howard Husock’s opinion editorial, “Are we looking at a death tax on charitable giving? Here's hoping Congress steers clear." Below you will find an excerpt. You can read the full text here.
This is the time of year when Americans turn to charitable giving because of both the holiday season and the end-of-year tax deduction deadline.
It’s especially true in 2020, when we’ve seen individuals and philanthropy rising to meet the needs of newly struggling Americans since the beginning of the coronavirus pandemic.
It’s part of what makes America great and exceptional. America is more charitable, dollar for dollar, than any other country. But now a group of billionaires and some of the country's largest foundations, think it’s their job to tell smaller donors how and when they should give to charity. And they want Congress to enforce their rules—making it harder for many Americans to give to their communities and causes they believe in.
Read more here.