The ‘big, beautiful bill’ democratizes charitable giving

The ‘big, beautiful bill’ democratizes charitable giving

Debate about the House’s “big, beautiful” tax bill has focused on big-ticket entitlement items such as Medicaid and food stamps. But the sprawling legislation includes consequential changes affecting one of America’s most distinctive characteristics: charitable giving. The United States has long been the world leader in charitable giving as a percentage of GDP, but, more recently, individual giving has stalled, as overall philanthropy has kept p…