Following the recommendation of the PSW public policy committee, the PSW Board voted to join these sign-on letters, supporting efforts to simplify the private foundation excise tax. The Private Foundation Excise Tax Simplification Act (H.R. 4953) would simplify the current two-tier private foundation excise tax to a revenue-neutral, flat rate of 1.39 percent. Our association believes that streamlining this private foundation excise tax will support grantmaking without penalizing foundations during times of extraordinary need, such as natural disasters.