Sen. Chris Coons released a statement Nov. 28 on the potential impact of the Republican tax plan on American charities.
“I have serious concerns about many provisions of the Senate Republicans’ tax plan, including those that will greatly increase the national debt, provide no-strings-attached tax cuts to corporations and hurt middle class Americans who deserve a fairer tax code the most. But today, on Giving Tuesday, I also want to shed light on the devastating impacts that the GOP tax plan would have on charitable giving in the U.S.,” Coons said.
“The nonpartisan Tax Policy Center estimates that under the Republican tax plan, we will see charitable giving in the U.S. fall by at least $13 billion each year. Charities, including many faith-based organizations, provide countless services to Americans in need, from helping the homeless and providing health care to supporting disadvantaged young people and strengthening our communities,” Coons said.
“It is my sincere hope that my Republican colleagues will work with Democrats to craft a bipartisan tax plan that we can all support, and one that will help, not hurt, American charities. Even in times of tight budgets, I strongly believe we have a moral obligation to put a circle of protection around our neighbors most in need,” Coons said.