Colorado Association of Funders, along with our partners and our national network United Philanthropy Forum, have all been expressing our deep concerns about pending tax reform legislation that would cause harm to the charitable sector and charitable giving. But both are under serious threat right now — especially the impact of the charitable deduction. Members of Congress need to hear from constituents — including influential philanthropy leaders right now.
We’re urging our members to do the following immediately:
1. Contact Sens. Bennet and Gardner and urge them to support an amendment to the Tax Cuts and Jobs Act offered by Sens. Wyden (D-OR) and Stabenow (D-MI) that would provide for a universal charitable deduction, allowing taxpayers who do not itemize their deductions to take an above-the-line deduction for charitable contributions, subject to limitations. (This is critical because both the Senate and House tax reform proposals would almost double the standard deduction and leave very few taxpayers in a position of being able to take advantage of the century-old charitable deduction.)
2. Contact your Representative and urge him or her to vote NO on the House Tax Cuts and Jobs Act (H.R. 1). CAF and our national Forum network, as well as Colorado Nonprofit Association and its national network opposes this legislation because it would cause serious harm to the charitable sector, both through the loss of charitable giving and the interjection of politics into the sector.
The timing of all this is urgent.
Thank you for your efforts. Please let us know how we can help or whether you’ve attempted to reach out to Congress on these important matters. Your voice does matter and we need to know that sufficient numbers of people are speaking up for our sector.