House quietly passes tax exemption for megadonors

by Kenneth P. Vogel and Hillary Flynn,  Politico

The House on Wednesday with little fanfare passed legislation that would protect major donors like the Koch brothers and Tom Steyer from having to pay gift taxes on huge donations to secret money political groups.

 

The legislation, which now heads to the Senate, is seen by fundraising operatives as removing one of the few remaining potential obstacles to unfettered big-money spending by nonprofit groups registered under a section of the Tax Code — 501(c) — that allows them to shield their donors’ identities. Read the entire story.

 

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