11/07/2024

For Trump and Congressional Republicans, ‘Everything is in Play’ on Tax Cuts

This could be a major threat to nonprofits

President-elect Donald Trump is poised to push swiftly for new tax cuts if Republicans win full control of Congress, further slashing corporate rates and extending trillions of dollars of other cuts even as the national debt soars.

Major portions of Trump’s 2017 tax law are set to expire next year, and Republicans are aiming to give Trump a major legislative accomplishment within his first 100 days in office.

The GOP won control of the Senate in Tuesday’s elections. While control of the House is still uncertain, Republicans are optimistic that results are trending toward maintaining their narrow majority.

To understand the dangers this may pose to nonprofit organizations, please select this link.

Please select this link to read the complete article from The Washington Post.