The end result of their rate calculation in that table was only 19.3% for the "inclusive with rebate".
That would indeed be wrong if there are $219B NFP expenditures incorrectly included. The actual revenue-nuetral rate would then be 19.7% instead of 19.3%
I'd rather find that this is the error, rather than the language of HR25 really means NFP expenditures are FairTaxable events.
This really needs to be clarified, and if necessary the language changed to exclude those expenditures. HR25 would never get off the ground if those expenditures are taxable. Contributors need to be assured their favorite charity will be able to make full use of their donations.
The language seems clear to me, but not to you, and none of us wants ambiguous language in a Bill. Changing the language now is easy, but realistically, we all know it would never come out of committee without language crystal clear to the NFP lobby.
That would indeed be wrong if there are $219B NFP expenditures incorrectly included. The actual revenue-nuetral rate would then be 19.7% instead of 19.3%The "revenue neutrality" of their rate is another issue.