Las Vegas, Nevada – A new analysis of the Tax Cuts and Jobs Act indicates a wide range of significant negative impacts on the ability of charitable nonprofits in Nevada to serve our fellow citizens, and our communities.
The analysis by the National Council of Nonprofits highlights the key provisions of both the tax reform bills that are being voted on today in the full House and a Senate committee. Among the concerns are the curtailing of the 100-year-old incentive for taxpayers to give back to their communities; the potential to inject partisan politics into the work of nonprofits, reducing federal tax revenue by $1.5 trillion placing additional financial burdens on already stressed nonprofits; and increasing the deficit to such a point that federal, state, and local governments could be adversely affected for more than a generation. These and other challenges are outlined in Comparison of House and Senate Tax Bills and Impacts on Nonprofits.
“H.R. 1, as currently written in both the House and Senate, would be devastating for Nevada’s communities,” said Dana Serrata, Board Chair of the Alliance for Nevada Nonprofits. “Nonprofits from health clinics to social services will see more cuts as a result of this legislation while demand for these services will undoubtedly increase. At the same time, giving could sharply decrease because of the curtailing of the charitable deduction, and the destruction of the public’s trust in nonprofits’ work if partisan politics are allowed to override our missions. These competing forces are going to tear apart the community supports that Nevada’s nonprofits and houses of worship provide.”
Contact The Alliance for Nevada Nonprofits for additional local perspective on how the tax bills will affect Nevada’s nonprofits and the people they serve in communities across the state.
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The Alliance for Nevada Nonprofits (ANN) is the leader and voice for Nevada’s nonprofit sector, and the resource for sustainability, advocacy, and professionalism. A 501(c)3 public charity, ANN is the state membership organization for the 4,671 charitable nonprofits throughout Nevada.
For more information, please contact:
Andy Schuricht, Advocacy Chair
702-338-4183
andy@valorcsr.com