02/06/2025

Trump Unleashes Tariff Blitz

What to know in Washington

Tax Exempts on Edge as GOP Eyes Offsets

Nonprofits are getting together to defend their tax-exempt status, as Republicans consider trimming breaks that benefit hospitals, universities and others to fund extensions of much of the 2017 TCJA tax law.

Cuts to tax breaks in the sector were included on a lengthy list of options to raise revenue circulated by GOP lawmakers this month. Policies floated include eliminating the nonprofit status of hospitals, expanding the endowment tax on private universities and making scholarship and fellowship income taxable.

"This is the first time really in more than 50 years that associations have faced such a fight," said Jarrod Clabaugh, CAE, a steering committee member of the new Community Impact Coalition and president of the Ohio Society of Association Professionals. "We’re very nervous about our tax-exempt status."

Please select this link to read the complete article from Bloomberg Government.