Today, the U.S. House of Representatives passed a government funding package that includes repeal of the 21-percent unrelated business income tax (UBIT) on nonprofit parking and transit benefits. The legislation is expected to pass the U.S. Senate and must then be signed by the President to become law.
While we are not quite over the finish line, repealing this harmful tax has been the top legislative priority for ASAE and its UBIT Coalition.
ASAE thanks the UBIT Coalition, issue stakeholders and advocates for their support to amplify the tax-exempt community’s voice on Capitol Hill. Thousands of nonprofit and association professionals weighed in on this issue and our collective voice resonated with lawmakers.
We are also grateful for the dedicated, bipartisan leadership from numerous champions on Capitol Hill.
We look forward to messaging you again soon as this legislation progresses.
If you have questions about this critical legislation and what it means for the tax-exempt community, please contact ASAE’s Public Policy team at 202-626-2703 or email@example.com.