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"'It Will Have A Chilling Effect On The Creation Of New Foundations,' The GOP Tax Bill's Effect On Billionaire Philanthropy"
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"The bill aims to make permanent the tax cuts included in the 2017 Tax Cuts and Jobs Act, and includes higher levies on private foundations. Experts warn that this change will lead to a shift towards solutions with fewer giving mandates and more tax exemptions, potentially reducing charitable giving. Private foundations have been the center of billionaire philanthropy for generations, but the new provision could change this."
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