Statement from John Arnold on Bill to Get More Money to Charities Faster
As our country grapples with a pandemic, an economic recovery and deeply rooted inequality, it is clear the status quo for charitable giving incentives is not working. Congress must act to close the loopholes that warehouse charitable dollars in intermediary vehicles and slow the flow of charitable dollars to working charities. Charities are at the frontlines of our communities, and it’s time to unlock the more than $1 trillion promised to them. Today, legislation aimed at addressing these issues was introduced. I applaud Senator Angus King and Senator Chuck Grassley for their leadership on this important issue and urge other Members of Congress to support this bill.