There is a lot of discussion in the health care field about the coming effects of last year’s Congressional budget bill on health care financing (see Federal Budget Bill Brings Major Administrative & Financing Changes To Medicaid, ACA Marketplace & Medicare and Federal Medicaid Funding To Be Cut By $911 Billion Over 10 Years, Estimates Say). But much less discussed are the likely effects of the bill on philanthropy and charitable giving.

The big picture takeaway, according to a new report—The Philanthropy Outlook: Estimating Effects On Charitable Giving From The One Big Beautiful Bill—is that the combined provisions of the bill are likely to reduce total annual charitable giving in the U.S. by approximately $5.69 billion per year,…