Right now, billionaires can pour unlimited secret money into political attack ads. Soon, if congressional Republicans get their way, that secret political attack money will be tax deductible. Currently, 501(c)(4) groups are a major conduit for spending by undisclosed donors, but:
The tax overhaul bill offers a potentially much bigger loophole – one that political operatives will try to drive right through. It would politicize a different set of tax-exempt groups: 501(c)(3) charity organizations, where donors can take tax deductions for their contributions.
"This is going to create, possibly, tax-deductible electioneering," Franz said. [...]
As originally drafted, the repeal provision applied only to religious organizations. But House Republicans broadened it to apply to all 501(c)(3) entities.
The original plan applying to religious organizations would allow ministers to issue explicit political marching orders to their congregations. But the expanded version means that plus big tax deductions for the likes of the Koch brothers and Sheldon Adelson. In an indirect way, we’ll all be paying for the ads that billionaires are using to undermine democracy.