Bloomberg BNA Quotes Ruth Madrigal on Tax Reform’s Impact on Nonprofits

September 11, 2017

Bloomberg BNA quoted Ruth Madrigal in a September 11 article titled “Nonprofits Fear Sting of Tax Reform.” The article discusses the impact of tax reform on the nonprofit sector. Lawmakers have promised to preserve the charitable giving deduction but concerns for nonprofit organizations go beyond the deductions.

Ms. Madrigal says that proposals to broaden the unrelated business income tax, tax endowment earnings of certain colleges and universities, and remove a layer of tax on corporations are problematic. She adds: “Cutting any charity funding streams—whether charitable contributions or endowment earnings—cuts the ability to provide services to the needy. And I don’t think that tax cuts for those earning the most should be financed by cuts to services for those with the least.”

The full article can be read at Bloomberg BNA (subscription required).