Nonprofit institutions and their lobbyists are slamming the tax reform bill signed into law by President Donald Trump for hurting charities, but the tax bill will actually improve charitable giving, according to the Wall Street Journal editorial board.
The Republican tax reform plan eliminates many of the deductions for charitable giving, causing the nonprofit world to worry about donations, particularly the end-of-year blitz of contributions that many Americans make at the end of the year.
“The tax code is now poised to de-incentivize the heart of civic action in America,” Dan Cardinali, president of left-leaning nonprofit lobbying group Independent Sector told The Washington Post. “It’s deeply disturbing.”
The law doubles the standard deduction, which could mean that people fewer people will itemize deductions, some experts warn. Without tax deductions for charitable…
