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Bipartisan support helps foundations avoid tax increase in new Trump legislation

Mesabi Daily News 17 Jul 2025
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 the tax and spending legislation ...
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Young’s support helps foundations avoid tax increase in new Trump legislation

Indianapolis Business Journal 16 Jul 2025
... foundations with more than $5 billion in assets.
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Bipartisan support helps foundations avoid tax increase

The Journal Record 16 Jul 2025
GOP senators blocked a steep tax hike on major foundations in Trump’s new tax bill, preserving breaks for philanthropic endowments. ... .
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