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Friday, November 03, 2017

The Massachusetts Nonprofit Network Statement on the House Tax Reform Bill

The Massachusetts Nonprofit Network Statement on the House Tax Reform Bill

The following is a statement from Jim Klocke, CEO of the Massachusetts Nonprofit Network:
"The Tax Cuts and Jobs Act released yesterday by the US House of Representatives Ways and Means Committee is a step backwards in many important ways. It will harm the Commonwealth's nonprofits and the people they serve.

Federal tax policy should continue to support the work of the nonprofit sector—and it should encourage all Americans, regardless of income, to give back to their communities.

This bill is a step backwards on both fronts. It reduces charitable giving 
incentives in ways that will have a severely negative effect. It introduces partisan politics into the nonprofit sector in new and dangerous ways, jeopardizing the sector's integrity. It imposes new and unfair taxes on the nonprofit sector, undercutting its tax exempt status. And it does not include any provisions to make giving easier for the 70% today, and 95% of Americans tomorrow, who do not itemize their federal tax deductions.
For these reasons, the Massachusetts Nonprofit Network is strongly opposed to the bill in its current form. We will continue to work with our nonprofit members and organizational allies to push for solutions that enhance giving, benefit Massachusetts families, and allow nonprofits to continue to serve our communities."

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