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Megadonors Rejoice! House Quietly Passes Tax Cut
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17.04.2015
The House on Wednesday with little fanfare passed legislation that would protect major donors like the Koch brothers and Tom Steyer from having to pay gift taxes on huge donations to secret money political groups.
The legislation, which now heads to the Senate, is seen by fundraising operatives as removing one of the few remaining potential obstacles to unfettered big-money spending by non-profit groups registered under a section of the tax code – 501(c) – that allows them to shield their donors’ identities.
The legislation, which now heads to the Senate, is seen by fundraising operatives as removing one of the few remaining potential obstacles to unfettered big-money spending by non-profit groups registered under a section of the tax code – 501(c) – that allows them to shield their donors’ identities.
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