Tax breaks for charities and retirement plans would not be considered "Federal financial assistance."
This bill would clarify that the tax exemptions given to many charities, social groups, and retirement plans are not considered "Federal financial assistance" by the government. This change would apply to federal laws, rules, or regulations, unless a specific law says otherwise.
Today, it is not explicitly clear whether federal income tax exemptions for certain organizations, like charities and retirement plans, count as "Federal financial assistance." After this bill, these tax exemptions would explicitly not be considered "Federal financial assistance" under most federal laws, rules, or regulations, unless a specific law states otherwise.
HR 10148 · 119th Congress · AI Summary by gemini-2.5-flash · 10/10
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