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To keep Missoula strong, we encourage you to speak to your legislators about preventing damaging budget cuts.
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Give to Missoula Community Foundation
Dear FRIEND,

I want to talk to you about the proposed federal tax plan because there are potentially devastating consequences to Missoula's nonprofit community.
 
Nonprofits serve Missoula every day in countless ways. We provide disaster relief, serve senior citizens, protect our open spaces, and so much more. And we are critical to the local economy. According to a Montana Nonprofit Association report, nonprofits represent 11.4% of Montana’s workforce. This is actually the largest sector in Montana’s economy by share of wages paid.
 
The current tax proposal would thrust our local nonprofits into jeopardy by greatly reducing the charitable giving incentive.


Reduced Charitable Giving

  • The Senate version of the tax plan is slated to double the standard deduction
Currently, 30% of taxpayers itemize their taxes, which accounts for 82% of all charitable giving. National Council of Nonprofits estimates that doubling the standard deduction will decrease charitable giving by $13-$24 billion dollars every year, which could have the effect of eliminating 220,000 - 260,000 jobs. For nonprofits who depend on donations to pay the staff who run programs and services (most of us!), this loss could be devastating.
  • The tax plan would also double the estate tax to $11 million for individuals and $22 million for couples.
Currently, wealthy families have an incentive to leave some of their assets to charity. Without the estate tax, there is no limit to the growth of family dynasties, which is why it was instituted in the first place. Doubling the exemption level would reduce the share of estates facing the tax from 0.2 percent to 0.07 percent, leaving only 1,800 estates nationwide facing the tax, estimates show. Doubling the exemption would give estates worth over $22 million per couple (all those left facing the tax) a tax cut of $4.4 million apiece. To put that $4.4 million tax cut in perspective, it’s about the same as the cost of Pell Grants for 1,100 low- and moderate-income students to help them afford college.


The Takeaway


Individual donors like you cannot fix the gaping holes these budget cuts will create for our local nonprofits. To keep Missoula strong, we encourage you to speak to your legislators about these issues.
 
HOW YOU CAN HELP

Step One: Learn more about the issues. We have found helpful information from the following websites:


Step Two: Call your Representative and Senators (Capitol switchboard: 202-224-3121). You may want to use the following language in your statement:

“I’m a constituent and I’m calling in opposition to harmful provisions in the tax bill that would put nonprofits in jeopardy. Doubling the standard deduction will decrease charitable giving by $13-24 billion of dollars every year, which could eliminate 220,000 - 260,000 jobs. Also, doubling the estate tax will lead to more income inequality and reduce incentives for the wealthiest Americans to make charitable donations. I vehemently oppose these measures and urge the Senator/Representative to craft a tax bill that works for ALL Americans. Thank you.”


Step Three: Share this email. Encourage friends, family, and co-workers to join you in speaking up for independence and nonpartisanship in the charitable, religious, and philanthropic sectors.

Thank you for all that you do to make Missoula's nonprofit community strong and vibrant.

For the good of Missoula, Forever,

Meredith Printz
Executive Director, Missoula Community Foundation
Copyright © 2017 Missoula Community Foundation, All rights reserved.


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