Scott Wallace penned an op-ed in The Hill discussing options for economic and healthcare-focused pandemic recovery:
“If there was a way to inject 20 percent more stimulus into the economy at absolutely no cost to taxpayers, surely it would be a no-brainer for this bipartisan group. I’m talking about $200 billion. Not a dime from federal coffers. All gain, no pain.
Congress should mandate private foundations donate more to nonprofit organizations. Federal law already requires foundations to donate 5 percent of their assets each year. Congress could easily double that to 10 percent. Do it temporarily, for three years, to reflect today’s unprecedented health and economic crisis and allow time for deployment of a vaccine and full economic recovery. Making it temporary would allow fiscally conservative foundations who want to live and grow forever to drop right back down to 5 percent afterward — a minor blip over the long term.”
Read the full article in The Hill and subsequent coverage in the Wall Street Journal.