'Definitely bad news.' New study finds charitable giving grew a sluggish 1.6% last year.
Charitable giving in the United States rose a lackluster 1.6 percent last year, despite a strong economy — a sign that the 2018 tax code overhaul could be hurting donations, according to a new study published Monday.
“It’s definitely bad news,” said Steve Taylor, vice president for public policy at United Way Worldwide. A study last year by Indiana University predicted the new tax code would cause donations to fall 4.5 percent, off by at least $13 billion. It also said the decline would be concentrated among gifts from the middle of the income scale.
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