Legislation We are Monitoring
The Council continues to monitor legislation and legislative activity relevant to the broad philanthropic sector. Unless otherwise noted, the Council does not have a position on these bills, and none of these bills have been voted on. This page will be updated as information is available.
To stay up to date on the latest information, sign up for Washington Snapshot. And Council members can join the Council’s Public Policy Action Network, which meets every other month to hear policy updates and discuss upcoming advocacy opportunities.
119th Congress
- Endowment Tax Fairness Act (H.R.446): Raises the excise tax on the endowment profits of private colleges and universities with endowments larger than $250 million to 21 percent from the current 1.4 percent. It was introduced in the House by Reps. Troy Nehls (R-TX) and Lauren Boebert (R-CO).
- Permanent Tax Cuts for America Families Act (H.R.523): Creates a permanent increase to the standard tax deduction for taxpayers who do not itemize their taxes and requires the deduction amount to be adjusted each tax year for inflation. It was introduced in the House by Rep. Max Miller (R-OH) and a group of 11 Republican cosponsors.
- Estate Tax Rate Reduction Act (H.R.601): Reduces the estate tax to 20 percent on estates, generation-skipping transfers and gifts. It was introduced in the House by Reps. Jodey Arrington (R-TX) and Sanford Bishop (D-GA).
