Texas Sen. Ted Cruz introduced legislation yesterday to repeal part of the sweeping tax overhaul that imposed a new levy on churches, charities, and other nonprofits.
Some of those traditionally tax-exempt entities are not happy that the revamp included a 21% tax on some of the fringe benefits they provide to their employees.
Cruz said in a news release that his bill would allow charitable organizations to allocate funds and donations for their intended purpose, rather than for paying taxes.
Do you feel the tax overhaul did more harm than good for nonprofits?
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