Treasury Secretary Scott Bessent has thrown his weight behind a package of nonprofit disclosure bills aimed at closing tax-code blind spots that allow unregistered groups to operate under established charities without revealing their identities to the IRS. The House Ways and Means Committee advanced four transparency bills on July 22, including the Fiscal Sponsorship Transparency Act, which would force charities to publicly disclose details about projects operating under their tax-exempt umbrella, and the Foreign Funding Transparency Act, which would add lines to Form 990 covering money received from foreign nationals. Bessent stated that public money and tax-exempt status demand public accountability, and Treasury is already revising Form 990 to require clearer reporting on fiscal sponsorship arrangements. The push comes as Americans gave $617.20 billion in 2025, with individuals accounting for $394.20 billion, and as the tax-exempt sector now represents roughly 17% of the U.S. economy. Starting with the 2026 tax year, standard-deduction filers can write off up to $1,000 in cash donations, or $2,000 for joint filers, while itemizers face a new floor requiring charitable gifts to exceed 0.5% of adjusted gross income before becoming deductible.