What We're Tracking in DC
Tax Package Coming Soon?
While Republican leadership across the House and Senate has yet to agree to an approach to budget reconciliation, we may soon have a sense of what will be in the House’s version of a tax package. Earlier this week, House Ways and Means Committee Chairman Jason Smith said he hopes the House’s single budget reconciliation bill will be on the President’s desk for signature by Memorial Day, with draft legislation potentially being public as early as next week. While we are skeptical about that timeline since both chambers still need to agree on the rules for reconciliation, Chairman Smith's words do show that that House continues working to craft a package. We’ll keep you updated on budget reconciliation and any provisions that could impact philanthropy in upcoming editions of Snapshot.
Federal Government Shutdown Watch
Government funding runs out at midnight on March 14, meaning we are once again on shutdown watch. President Trump has backed a full-year continuing resolution, which would keep federal discretionary spending at current levels for the remainder of Fiscal Year 2025. While Republican leaders have said they will move ahead with this strategy, it is unclear that the full conference is on board, or if a different bipartisan approach may still be possible.
Even partial government shutdowns can impact charitable nonprofits beyond just increasing demand for services (including from furloughed federal employees and contractors). When the federal government continues only essential operations, most interactions nonprofit organizations have with federal government officials will be paused. This includes applications or proposals for federal grants and contracts. And while existing contracts and grants are supposed to be honored once the government reopens, payments may be delayed. As we learn more, we will share more
Federal Government Updates and Opportunities
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