We wanted to share this important breaking news on the status of tax reform legislation. As you know, in Washington, D.C., things can change quickly. Just last week, House Ways and Means Committee Chairman Kevin Brady said that the tax reform framework document should be done in early September. However, yesterday House Speaker Paul Ryan announced that the tax reform framework will be released later this week. The expectation is that the House Ways and Means Committee will take that framework and turn it into a tax reform bill.
Obviously, this latest development shifts the landscape significantly as we near the August recess.
The Council will continue to keep you updated and engaged during this crucial time for the sector. We take very seriously our role to advocate vigorously for policies that allow philanthropy to continue to do good work in communities across the globe.