AFN's latest Strategy Spotlight highlights the catalytic role of philanthropy to take these efforts to scale.
"Engaging in tax work is especially important for funders who have the privilege of investing broadly. By not addressing taxes, you’re not addressing the elephant in the room.” - Elena Chavez Quezada, The Walter and Elise Haas Fund; Member, AFN Steering Committee
The U.S. income tax system is arguably one of the biggest contributors to wealth inequality as it is subsidizing higher-income households to build assets while providing limited benefits to low- and moderate-income families.
Closing, or even narrowing, the wealth gap in the years ahead will require changing tax policies so that household savings and investment incentives are accessible to those who are the least economically mobile.
AFN's new Strategy Spotlight, Building Wealth Through Tax Reform: Opportunities for Grantmakers, written by Asset Building Strategies founder Heather McCulloch, shines a particularly bright light on state tax reform efforts and the catalytic role philanthropy can play to take these efforts to scale.► Click to LEARN MORE