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March 31, 2025
Pressure in Congress is rapidly growing to respond to the Left-leaning tilt of universities by increasing the excise tax on their endowments. There’s no doubt that for legislators concerned about both the quality of education and looking for a way to raise revenue without increasing tax rates, endowments such as Harvard’s $50 billion or Yale’s $40 billion…
November 15, 2024
In his 2021 campaign for Senate, JD Vance, now vice-president-elect, minced no words in expressing his disdain for two of America’s largest private, philanthropic institutions: the Ford Foundation and the Gates Foundations. Both are, he said, “fundamentally cancers on American society but they pretend to be charities, so they benefit from preferential tax treatment.” Their endowments, he continued,…
August 30, 2024
To the Editor: New research showing a sharp decline in giving in 2018 — the year after passage of the 2017 Tax Cuts and Jobs Act — must be tempered by a consideration of the extent of nonitemized giving, which is often difficult to capture. Rasheeda Childress’s article “Donors Likely Giving $16 Billion Less Each…
August 6, 2024
Debate over the potential renewal of the so-called Trump tax cuts of 2017 will be building as their expiration approaches next year. The focus will likely be on corporate and personal tax rates. But there’s a less-appreciated but consequential side effect of the Tax Cuts and Jobs Act: its impact on charitable giving. Simply put,…