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flag A 2025 Trump tax law boosts donor numbers but may cut total charitable giving by $5.6 billion annually.

flag A new U.S. tax law under President Trump, enacted in 2025, is expected to increase the number of individual donors by 6 to 8.7 million by allowing a $1,000 standard deduction for individuals and $2,000 for married couples, benefiting about 87% of taxpayers. flag However, the law may reduce total charitable giving by about $5.6 billion annually due to a 35% cap on itemized deductions for high earners, a 0.5% income floor for itemizers, and a 1% pre-tax profit floor for corporations, which could cut corporate giving by roughly $1.5 billion. flag While more people may donate smaller amounts, overall giving could decline slightly, representing less than 1% of 2024 levels, with broader economic factors likely having a greater influence in 2026.

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