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title: "Washington Snapshot: One Big Beautiful Bill in the Senate"
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How does the Senate's version of the budget reconciliation bill affect the philanthropic sector?

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| Public policy news and updates for the philanthropic sector |
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| June 30, 2025 What's Happening This Week... Happening at the Council What We're Tracking News, Resources, and Events |
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| Happening at the Council Council offices are closed this week for our annual summer Wellness Week, but we're here with a special edition of Snapshot to keep you informed about what has happened in the Senate this weekend. We'll send another update if there are major changes that affect foundations, but otherwise, we're offline until next week! |
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| What We're Tracking in DC "One Big Beautiful Bill" in the Senate After midnight Saturday morning, the Senate Budget Committee released a revised version of the reconciliation package, making changes that address violations of the Byrd Rule and issues raised by members of the Republican conference. The Senate’s Revised Text: Excludes the tiered increase to the private foundation excise tax; Retains the expanded increased non-itemizer charitable deduction set at $1,000 for single filers and $2,000 for joint filers; Maintains the 0.5 percent floor on charitable contributions for itemizers; Includes a 1-percent floor on charitable contributions for corporations. See the Council’s updated summary and additional resources for more information. Until the bill is on the President’s desk, negotiations will continue and changes may still happen. Majority Leader Thune is expected to offer a wrap-around amendment that contains remaining changes to comply with the Byrd Rule and agreements negotiated with Republican Senators. What Happens Next? Senate passage is expected sometime on Monday, though it could stretch into Tuesday, barring any additional complications. Next, the bill will head back to the House for consideration. Speaker Johnson intends for the House to vote this week to meet Republicans’ and President Trump’s July 4th deadline. If you have questions, please reach out to our Government Affairs team at govt@cof.org. |
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| News & Resources Charitable Giving in 2024 Was Up, According to New Giving USA Report - Washington Post Capitol agenda: Thune heads into perilous vote-a-rama - Politico Trump Administration Live Updates: Senate to Begin Voting on Policy Bill, as G.O.P. Grasps for Support - NY Times |
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| Upcoming Events Summer Member Policy Briefing July 22, 2025 2:00-3:00 p.m. ET Essentials of Policy Advocacy for Grantmakers September 16-17 1:00-5:00 p.m. ET each day |
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| Keep in Touch! Please feel free to reach out to any of us on the Government Relations Team with comments or concerns, or to share an issue, article, event, or op-ed you would like to see covered in a future Washington Snapshot. View this email as a web page. |
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| Shared purpose. Collective voice. Greater impact. Council on Foundations \| 1255 23rd Street NW, Suite 200  \| Washington,  DC  20037 You received this email because you are subscribed to receive emails from the Council on Foundations. Update your email preferences to choose the types of emails you receive. View our Privacy Policy. Unsubscribe from all future emails. |
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