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President Trump’s Tax Plan Has Implications for Giving

A tax reform plan announced by U.S. President Donald Trump would likely lead to a decline in giving to educational institutions and other charitable organizations.

While the Trump administration's plan, released on April 26, makes it clear that the charitable deduction would be protected, significant cuts in individual tax rates coupled with a doubling of the standard deduction threshold would reduce the value of the charitable deduction for most American taxpayers. Brian Flahaven, CASE's senior director for advocacy, provided a deeper explanation of how the president's tax plan would affect giving in a recent blog post. 

Additionally, the president's tax plan would fully repeal the federal estate tax, eliminating the tax incentive donor's receive for giving bequests to educational institutions.

At this point, the president's tax reform plan is a broad outline with many details yet to be determined, Flahaven noted. Lawmakers will consider the president's plan as they craft tax reform legislation in the coming weeks and months.

To stay updated on tax reform and other legislative developments affecting educational advancement, join the CASE Advocacy Network, CASE's new online community dedicated to advocacy issues.

This article is from the May 2017 BriefCASE issue of BriefCASE.