Charitable giving dropped last year in the wake of the new tax law


(Worthy News) – Americans gave less to charity in 2018 than a year earlier, following changes in the tax law and fourth-quarter declines in the stock market, according to a new report.

Charitable giving by individuals America fell 1.1% to $292 billion in 2018 compared with 2017, according to Giving USA. Because giving by foundations and companies increased, total giving in the U.S. increased slightly, by 0.7%, to $428 billion.

The decline in giving by individuals comes after the new Republican-backed tax law, which took effect in 2018, reduced the tax incentives of giving for many households. The law signed by President Donald Trump doubled the standard deduction for families to $24,000, meaning far fewer households itemized and took a deduction for charity. [ Source: CNBC (Read More…) ]

7
people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

đź’ˇ Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Latest Worthy News

Britain Gets New PM As Burnham Vows Tougher Israel Stance
Oil Surges As US Expands Iran Strikes While Tehran Executes Protesters
Spain’s World Cup Triumph Overshadowed By Deadly Wildfires
Hungary’s PM Taps Chess Giant Judit Polgár For President As Outgoing Leader Denounces Constitutional Changes
U.S. Pounds Iranian Military Sites for Ninth Straight Night as Israel Raises Readiness
Israel Begins Preparations for 2,000th Anniversary of Jesus’ Baptism
Churches Swept Away as Flash Floods Devastate Remote Indian Town
U.S. Adds Nearly 3.5 Million New Businesses in Record-Setting First Half of 2026
Turkey Considers Sending Russian S-400 System to UAE to Unlock F-35 Deal
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News