Build Back Better Bill Provides Help For Nonprofit Journalism, Endowments
Tax credits available to support local journalism, universities could eliminate tax on investment income
The Build Back Better Act recently passed by the House of Representatives and sent to the Senate contains innumerable highly publicized programs that will provide billions of dollars in grants for nonprofit organizations. But it included two unheralded provisions that would specifically aid nonprofit local journalism and allow colleges and universities to reduce or eliminate the special excise tax on endowment earnings.
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