CONGRESS FOR VOTERS

Judy Chu (D-CA)

End Tax Breaks for Dark Money Act

H.R. 10651 · House bill Taxation

A Democratic bill with 17 Democratic cosponsors · See all 17 cosponsors

Last activity — Referred to the House Committee on Ways and Means.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill is called the End Tax Breaks for Dark Money Act''. It changes the Internal Revenue Code of 1986. The bill treats transfers of appreciated property to certain tax-exempt organizations the exact same way as transfers of appreciated property to political organizations. Specifically, it expands the definition of a specified organization'' to include political organizations as well as any organization described in paragraph (4), (5), or (6) of section 501(c). These changes apply to transfers made after the date the Act is enacted, in taxable years ending after that date.

Yes· 3 of 4

  • Scored +4

    Does this limit or expose the money behind campaigns?

    The legislation removes preferential tax treatment for property transfers to section 501(c)(4), (5), and (6) organizations, which are frequently used for political spending.

  • Scored +3

    Does this make what the government does easier for the public to see?

    By reducing tax incentives for transferring appreciated property to certain dark money and advocacy groups, the bill discourages covert political financing channels.

  • Scored +3

    Does this raise taxes on the highest earners?

    The bill treats transfers of appreciated property to certain tax-exempt organizations as taxable events, increasing tax burdens on high-value asset transfers typically utilized by wealthier individuals.

The opposite

  • Scored -3

    Would people with substantial wealth be better off under this?

    High-net-worth individuals lose a tax avoidance mechanism when transferring appreciated property to certain tax-exempt organizations.

  • Scored -3

    Would the very wealthiest people be better off under this?

    Ultra-high-net-worth individuals face stricter tax rules on transfers of appreciated property to advocacy and social welfare organizations.

  • Scored -3

    Would billionaires be better off under this?

    Billionaires face increased tax liabilities when utilizing specific tax-exempt entities for transferring appreciated property.