Wealthy Donors Press Congress to Require Higher Giving in Crisis
- Change would raise $200 billion by doubling distribution rule
- Change would be ‘free’ economic stimulus, advocates say
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A group of philanthropists is asking Congress to require foundations and other charitable groups formed by affluent donors to give more to charitable causes to combat the economic downturn caused by the coronavirus pandemic.
Walt Disney Co. heiress Abigail Disney, Susan and Regan Pritzker of the billionaire Pritzker family, and early Google software developer Ning Mosberger-Tang are among more than 260 philanthropists asking Congress to increase the minimum amounts that private foundations and donor-advised funds donate to charities each year.