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Senators Fight To Save Tax Break For Newman's Own Foundation In Westport Senators Fight To Save Tax Break For Newman's Own Foundation In Westport
Senators Fight To Save Tax Break For Newman's Own Foundation In Westport WESTPORT, Conn. — Over the past 25 years, Newman's Own Foundation in Westport has donated $512 million to charities. But a provision in ongoing federal budget negotiations could force the nonprofit founded by actor Paul Newman to close its doors due to a disastrous tax. U.S. Sens. Richard Blumenthal and Chris Murphy (D-Conn.) have written to Senate leaders for help for the nonprofit. When Paul Newman died in 2008, ownership of the actor’s eponymous food company, Newman’s Own, was turned over to the nonprofit foundation. It donates 100 percent of its profits after taxes to charity.  Because…

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by Daily Voice