Trump's 'big, beautiful bill' clears key committee, hurting foundations

U.S. President Donald Trump’s self-described “big, beautiful bill” made its way through a key congressional tax-writing committee on Wednesday, advancing a 389-page plan that would increase taxes on private foundations, place a 5% tax on remittances for non-U.S. citizens, and allow the government to revoke the tax-exempt status of organizations it says support terrorists.

The changes are part of a sweeping budget package that’s making its way across Capitol Hill, one that would also slash billions of dollars for Medicaid and food stamps to help pay for trillions in tax and spending cuts. While the bulk of the bill is concentrated on domestic tax issues touching health care, family support, and energy, a collection of other provisions are embedded within its pages — many of which impact the philanthropic sector.

There are several committees and pieces of legislation that will ultimately make up Trump’s bill. But after a marathon 17-plus hours of debate, lawmakers on the House Ways and Means Committee retained the provisions focused on non-profits and foundations, with their portion of the bill passing along party lines. The House Budget Committee will now be charged with stringing all that legislation together and presenting it to the full House of Representatives for a vote.