The Philanthropy Outlook: Estimating Effects on Charitable Giving from the One Big Beautiful Bill

Abstract

2025 H.R. 1, commonly known as the “One Big Beautiful Bill Act” (OBBB) was signed into law as Public Law 119-21 by President Donald Trump on July 4, 2025.1 The OBBB is a large, comprehensive bill incorporating multiple policy priorities from the Trump presidential campaign agenda (e.g., tax cuts, immigration enforcement, etc.). In the months since its passage, experts and commentators have focused primarily on the effects of the OBBB on the economy broadly (e.g., inflation and employment) and other areas of public policy. In contrast, relatively little attention has centered on how the OBBB might affect private philanthropy in the United States (U.S.), either in the short or long term.2 This study provides an initial effort to address this gap in research. In addition, this analysis identifies which aspects of the relationship between the OBBB and charitable giving can be assessed using currently available data and which cannot. Where data are not available, the report outlines potential theories and data that might support future analysis of these issues.