Dec 17, 2010
Both the House and Senate have passed an $858 billion two-year extension of the Bush tax cuts and that measure is headed to the President’s desk for signature.
So what comes next on taxes? Let’s read the tea leaves, shall we?
Dec 3, 2010
As the 111th Congress winds down –most likely with a whimper not a bang– it is worth looking ahead to the next Congress to see what’s on their agenda for the issues important to the charitable community. Let’s start with the charitable deduction.
Here is what we already know:
Good Giving | Federal Legislation
Dec 2, 2010
In the New York Times today, Stephanie Strom reports on the response of the nonprofit community to the debt reducing proposals emerging on the Hill that take aim at the charitable deduction.
Federal Legislation | State Legislation
Nov 19, 2010
Our top ten list of what this month’s elections mean for the nonprofit sector:
1. This year’s freshman class is one of the largest in history.
2. Outgoing Ways and Means Chairman Sander Levin (D-MI) and presumed incoming Chairman Dave Camp (R-MI) are both very supportive of the nonprofit community, perhaps because they both hail from Michigan, a state with a rich history of effective nonprofits and foundations.
3. But, potentially rougher waters await the Ways and Means Oversight Subcommittee.
4. Senator Hatch brings a different perspective to Senate Finance Committee Leadership.
Nov 5, 2010
As of today at 9:20AM EST, here is what we know:
And here is what we don’t know…
Oct 22, 2010
Remember that annoying song from the show Lamb Chops Play Along called “The Song that Never Ends”?
“This is the song that never ends,
Yes, it goes on and on my friends…”
Well, this Congress is starting to feel a lot like that song…With less than two weeks to go before the election, we take this opportunity to opine on what we think might happen in a lame duck and beyond.
Federal Legislation | State Legislation | Events
Sep 29, 2010
ACR has a strong lineup of sessions and events scheduled for The Philanthropy Roundtable’s Annual Meeting to take place October 14-16, 2010 at the Ritz-Carlton, Amelia Island, FL. From a congressional outlook for 2011 to advancing legislation that protects philanthropic freedom across states, ACR will tackle issues important to the philanthropic sector.
It’s not too late to register!
Following are ACR sessions and events at the Annual Meeting:
Sep 24, 2010
The two ends of the spectrum in American politics are like the Hokey Pokey. It is either the left foot in or the right - not a lot of in-between. As the song goes…
“You put your right foot in,
You put your right foot out;
You put your right foot in,
And you shake it all about.”
As of this writing, the more conservative wing of the Republican party has its right foot in and it is shaking up the mainstream of the Republican party.
As Democrats, how they respond to a hard right in the Republican party remains to be seen…
What could that mean for the non-profit sector? We can expect more…
Sep 10, 2010
If you’ve been associated in any way, shape or form with a pregnancy since 1984, you’re probably familiar with the now-classic book, What to Expect When You’re Expecting, known as the “bible” of American pregnancy.
Sadly, there is no such guide to let us know what to expect as Congress gets ready to return for a few short weeks before heading out to campaign for the November elections – particularly when the political future for next year in Washington is so murky.
So what should we expect?
The short answer is, “not much.”
Jul 30, 2010
There are various third rails in politics – things politicians don’t generally touch for fear of the backlash. Programs like Medicare and Social Security, farm subsidies, and veteran’s benefits.
And there are some third rails in the tax world as well. For years, Congress has implemented and extended popular tax deductions and credits for both individuals and institutions that have achieved a “sacred cow” status. The home mortgage interest deduction and the R&D tax credit are just two such examples…
Set this against our country’s current fiscal situation: Rising national debt and new public policy priorities… Suddenly, those sacred cows in tax world aren’t so sacred anymore.
Nonprofits are not immune from this debate – the charitable deduction is considered a tax expenditure… What does this mean for us?