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FYI: If Congress repeals the estate tax, nonprofits in New York State will lose more charitable contributions than those in any other state–nearly $1.5 billion a year, according to a report by Washington, D.C.-based OMB Watch, a nonprofit focused on good government. The House repealed the estate tax in June, but the Senate has yet to vote on the issue. Nationally, donations from charitable bequests would drop by 22 percent to 37 percent, which would have meant a loss of between $543 million and $914 million for New York nonprofits in 2001. [11/5/03]

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