September 2, 2011
Source: Independent Sector
President Barack Obama will address a joint session of Congress on Thursday, September 8 to unveil his proposal to spur job creation. Let’s make sure that nonprofits are not overlooked.
More than ever, families, communities and governments are turning to nonprofits for help. Hiring incentives for nonprofits will benefit American communities and the economy, allowing nonprofits to employ more people and provide more services to our communities.
The Nonprofit Sector Is a Major Employer
America’s nonprofits employ more than13 million people — one of every 10 American workers. We collectively pay nearly $670 billion in wages and benefits in the U.S., and employ more people than the finance, insurance and real estate sectors combined. Each year, nonprofits spend $1.3 trillion, contributing to the economy and making important investments in communities across the country. Click here for more resources.
Independent Sector and FANO are urging the President to include nonprofits in his jobs proposal.
Our message to the President is that any provisions intended to encourage job creation by for-profit companies should be made available to nonprofit employers — including new hire tax credits, tax credits for hiring veterans, government-backed loans, subsidies for particular investments, or other opportunities.
Independent Sector is also working to ensure the President understands that America needs the donations that the charitable tax deduction encourages. Charitable contributions are down significantly as a result of the recession and continued sluggish economy. Our communities cannot afford the estimated $7 billion decline in contributions that would likely result from the administration’s proposed 28% cap on the charitable tax deduction.