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600% tax hike on private foundations cut from Trump’s BBB after extensive lobbying: ‘This took some persuasion’
fortune.com/2025/07/17/tax-increase-private-foundations-philanthropies-charities-trump-big-beautiful-bill
Two Republican senators and a broad bipartisan coalition of funders and nonprofits prevented a 600% increase in taxes levied on the endowments of the largest private foundations as part of President Donald Trump’s tax and spending legislation.
Thanks to their support, when Trump signed…
This story appeared on fortune.com, 2025-07-17 18:15:26.