Senator Angus King

@SenAngusKing ↗

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Last Checked Oct. 7, 2021

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Wed Jun 09 16:23:41 +0000 2021

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Senator Angus King @SenAngusKing

Under current rules, donor-advised funds (DAFs) and private foundations allow some Americans to receive tax breaks for donations that never actually reach working charities. Our bill will clarify this gray area, and direct more resources to working charities nationwide. — PolitiTweet.org

Posted June 9, 2021

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Senator Angus King @SenAngusKing

America’s philanthropic sector is a global force for good – but to maximize its impact, we must reform tax rules that govern some gifts. I am introducing a bill with @ChuckGrassley to ensure all donations reach working charities in a reasonable timeframe. https://t.co/E0GWNEWjDX — PolitiTweet.org

Posted June 9, 2021

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Senator Angus King @SenAngusKing

The ACE Act would institute time limits on how long DAFs can hold money meant for charitable donations, provide incentives for faster distribution of these funds, and guarantee that payments to a donor's family don’t count as eligible expenses for private foundations. — PolitiTweet.org

Posted June 9, 2021