Senators Angus King and Chuck Grassley say too much donor money is parked, earning interest when it should be doing good. They introduced their Accelerating Charitable Efforts (ACE) Act, in June.
Legislation and changes in federal taxes that could impact the charitable sector may pass this year despite slim majorities in a divided Congress.
U.S. Senators Angus King (I-Maine) and Chuck Grassley (R-Iowa) have introduced legislation that would put donations in the hands of charities faster by reforming the rules surrounding donor-advised funds (DAFs).