LeadingAge to battle tax plan
McConnell: GOP’s tax plan must pass.
Nonprofit providers could be ravaged by a Republican tax plan winding its way through Congress, industry leaders said in November.
The House's tax plan would change individual tax rates, eliminate some credits and repeal individual deductions for things such as medical expenses. The Senate's bill varied slightly, but GOP leaders were confident differences could be reconciled.
“Those who are older will find the loss of the medical deduction a bitter pill to swallow. And for our members, providers of services to older people, this could be devastating,” said LeadingAge CEO Katie Smith Sloan.
The organization said it opposes any bill that eliminates tax exemptions for affordable housing or changes charitable deductions.