Tax reform is taking center stage in Washington. The administration and House of Representatives have released their Unified Framework for Fixing Our Broken Tax Code, which proposes maintaining tax deductions for charitable donations. On the surface this is good news, but a closer look by the National Council of Nonprofits and the international Association of Fundraising Professionals has raised significant concerns.
Don’t delay – act now. Here’s what you need to know.
According to the Council, one provision – doubling the standard deduction – would reduce the value of charitable deductions because far fewer people would be able to take advantage of them. Currently, 33% of Americans itemize when they pay their federal taxes. AFP points out that the proposed change reduces to 5% the number of people who would be eligible to itemize – that translates to a loss of 30 million itemizers.
Think of what this could mean to your organization.
We strongly encourage you to review information from the Council and AFP. Then call our delegation and let them know how this proposal would affect your ability to carry out your mission. They will care about the impact on Alaskans and our communities. AFP has developed talking points that you can use to help tell your own story.
If you have questions, please contact Mike Walsh, Foraker Vice President of Public Policy, at email@example.com. Below is how you reach each member of the delegation.
- Senator Lisa Murkowski. Contact information
- Senator Dan Sullivan. Contact information
- Representative Don Young. Contact information