Thank you, National Council of Nonprofits, for sharing:
The tax bill that the House and Senate will vote on in the next few days will hurt the work of nonprofits and the people we all serve. It favors special interests and the wealthy over the needs of individuals and communities. It prioritizes the panacea of tax cuts over the promise of real reform. It ignores the clearly articulated concerns of charitable and philanthropic organizations about the adverse consequences of many provisions. With very few exceptions, the bill that came out of the conference committee will harm the ability of charitable nonprofits and foundations to address needs in communities and advance their missions.
In the view of the National Council of Nonprofits, the consequences of the tax bill will be devastating to the millions of people around the country who rely on charitable nonprofits for everything from food and shelter to faith-based sanctuaries and job training to a safe place to escape domestic abuse and enrichment through the arts. By necessity, spending cuts will be the immediate result of profligate tax cuts, ensuring that organizations that already have been stretched too far are simply going to have to turn people away, discontinue vital programs, and even close their doors entirely. All of these are the foreseeable results of a bill that fails to look past the short-term ‘win’ of cutting taxes to recognize the very high price the public will be expected to pay.
The National Council of Nonprofits urges every person committed to the mission of a charitable nonprofit or foundation to make Congress know the Tax Cuts and Jobs Act would sabotage the vital work of nonprofits for the people we serve and for the ability of organizations dedicated to the public good to address community needs. Go to Take Action Now for ways you can call, mobilize others, and tweet in opposition to the tax bill.
In taking a stand to Kill the Bill and Start Over, nonprofits and foundations aren’t the only organizations opposing this disastrous bill. Others opposing the tax cut bill include:
- AARP (social welfare organization for older Americans with nearly 38 million members): “The fallout of the plan would be even more pronounced on older Americans and the poor, as it puts Medicare, Medicaid and other safety net programs at risk. With an estimated cost of nearly $1.5 trillion in lost revenue over the next decade, the tax overhaul would trigger automatic spending cuts to key programs mandated by the 2010 ‘pay-as-you-go’ law, including $25 billion to Medicare in 2018 alone.”
- Americans Against Double Taxation (a coalition of government organizations, service providers, and other stakeholders dedicated to protecting the state and local tax deduction (SALT)):“The substantial cut in the SALT deduction will raise taxes for homeowners in many states, drive down property values, and threaten funding for infrastructure and vital public services…. We urge lawmakers to vote no on the conference report, as this is the only option at this stage to preserve SALT, prevent double taxation, and preserve the integrity of state and local finances.”
- Businesses for Responsible Tax Reform (an organization of nearly 2,000 small business owners): “The proposals do nothing to level the playing field for small businesses. They significantly lower the corporate tax rate but fail to close many loopholes big businesses use to avoid paying taxes…. The proposals also do little to simplify the code, and actually make it more complex for the more than 90% of small businesses that organize their firms as pass-through entities…. A ballooning deficit is bad for business because it drives interest rates higher.”
- National League of Cities (representing America’s 19,000+ cities and towns): “Congress can’t pay for tax reform by stripping the tools that help build stronger, healthier and more economically vibrant communities. [The bill] preserves many key credits and partially protects the deduction for state and local taxes (SALT). Unfortunately, the final bill falls short on its promise to protect American families and the cities and towns in which they live.”