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Trump's Tax Changes Threaten $6 Billion in Charitable Giving

12/2/2025

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Summary

Story summary

U.S. President Donald Trump’s 2026 tax changes reduce benefits for wealthy donors and could cut charitable giving by $4.1–$6.1 billion.
The share of Americans who give has declined—from 66.2% in 2000 to 45.8% in 2020.
Philanthropists such as MacKenzie Scott and Melinda French Gates have made substantial gifts.
Middle-class incentives may appear, but they are unlikely to offset the gap left by reduced billionaire donations.

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Story summary

U.S. President Donald Trump’s 2026 tax changes reduce benefits for wealthy donors and could cut charitable giving by $4.1–$6.1 billion.
The share of Americans who give has declined—from 66.2% in 2000 to 45.8% in 2020.
Philanthropists such as MacKenzie Scott and Melinda French Gates have made substantial gifts.
Middle-class incentives may appear, but they are unlikely to offset the gap left by reduced billionaire donations.