How Bush's FY06 Budget Will Affect Nonprofits The President's budget that was released on Feb. 7 is not just austere; it is also frighteningly bleak for nonprofit groups and the people and causes they serve. The President has manufactured a fiscal crisis with massive tax cuts, mainly targeted to the wealthy, that has resulted in federal revenues being reduced to the lowest levels since the 1950s as a percentage of our economy. Cutting revenue to that level means there is drastically less money to fund programs that address community and human need problems, a core function of many nonprofits. The Bush FY 2006 Budget from a Nonprofit Perspective (.pdf) How To Be Tough On Budgets, Not Poor Americans There is something interesting going on in Indiana this year. Republican Governor Mitch Daniels, former Office of Management and Budget (OMB) director under President Bush, wants to institute a progressive tax for one year to help close Indiana’s $645 million budget shortfall. Read more... Daniels As OMB Chief in 2001 Sign up to receive Budget and Tax email updates. Email address: Your name: