Foundation Tax Hike Sparks National Outcry in US

A proposed steep increase in the federal excise tax on private foundations is sparking heated debate across the nonprofit sector. As Congress reconciles differing versions of the "One Big Beautiful Bill," billions in charitable giving hang in the balance. Critics warn the hike could slash community support and reduce philanthropy, while proponents say it pressures large foundations to give more. The sector faces profound uncertainty ahead of the July 4 deadline