Loss of 220,000 to 264,000 Nonprofit Jobs

From the National Council of Nonprofits:

Under the House and Senate bills, the charitable deduction would be out of reach of more than 90% of taxpayers. The Joint Committee on Taxation (JCT) estimates that itemized deductions will drop by $95 billion in 2018. Not all of this would disappear; the change is estimated to shrink giving to the work of charitable nonprofits by $13 billion or more each year. Estimates are that this drop in giving would cost 220,000 to 264,000 nonprofit jobs.

More information on the impact of the new tax bill: https://www.councilofnonprofits.org/sites/default/files/documents/comparison-house-senate-tax-bills-nonprofits.pdf

John Machado