'IT WILL HAVE A CHILLING EFFECT ON THE CREATION OF NEW FOUNDATIONS,' THE GOP TAX BILL'S EFFECT ON BILLIONAIRE PHILANTHROPY
https://media.zenfs.com/en/Benzinga/a27d0b705247aa684efc52529917d5ac
✍️ The House passed President Donald Trump's 'One Big Beautiful Bill' which includes increased levies on private foundations run by the ultra-wealthy, potentially having a negative effect on charitable giving.
👉 Increased levies on private foundations' investment income from 1.39% to 2.78% to 10% 👉 Experts warn that this change will have a negative effect on charitable giving 👉 Private foundations have been the center of billionaire philanthropy for generations 👉 The change could lead to a shift towards solutions with fewer giving mandates and more tax exemptions
-- #DonaldTrump #JohnD.Rockefeller #BillGates #MichaelBloomberg #LauraMacDonald #JohnSeitz #RayMadoff #politics
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