Will Middle-Class Donors Step Up to Fill the Giving Gap?
New tax laws might change how Americans give to charity. The changes could make the wealthy give less and encourage middle-class folks to give more. But will it work? The tax bill passed in July has some big changes. It lowers the tax benefit for top earners from 37% to 35%. This could mean $4. 1 billion to $6. 1 billion less in donations each year. The bill also li...