Agreement Reached on Tax Cuts; Charity Reforms Not Included
May 16, 2006
Late last week, Congress passed the final compromise on the $70 billion tax reconciliation package (H.R. 4297), combining a two-year extension of the reduced tax rates on capital gains and dividends with a one-year extension of alternative minimum tax relief. President Bush is scheduled to sign the bill into law May 17.
A package of charitable giving incentives and reforms affecting colleges and universities, included in the original Senate version of the bill, was not included in the final measure. However, some aspects of the charitable package could be included in a second tax package that might be added to the pension reform legislation currently in conference (H.R. 2830).
Senate Finance Committee Chair Charles Grassley (R-IA) hopes to complete action on the pension reform legislation by May 28. However, both the timing and the state of negotiations related to the charitable provisions remain unclear.
- Final Report for the 2016 NACUBO-Commonfund Study of Endowments is Now Available
- What Did I Miss? February 28-March 20, 2017
- ACA Repeal Moves Forward as House Republicans Unveil Their Health Care Replacement Plan
- WEBCAST: Legislative Lunchcast: A 30-Minute Washington Update from NACUBO
Friday, March 31, 2017 12:00PM ET
- WEBCAST: What’s Happening in Student Financial Services?
Thursday, April 13, 2017 1:00PM ET
- WEBCAST: How to Budget for Technology That Aligns with Institutional Goals
Thursday, April 20, 2017 1:00PM ET
- WEBCAST: Update to Strategic Financial Analysis for Higher Education, 7th Edition: Corrections, Clarifications, and Consistency of Application
Monday, May 22, 2017 1:00PM ET