Finance

‘Partisan politics’: how efforts to overturn the Johnson amendment could upend campaign finance

Published

1 year ago

November 14, 2024

‘Partisan politics’: how efforts to overturn the Johnson amendment could upend campaign finance

Donald Trump has long promised his evangelical base he will undo the Johnson amendment, allowing churches and other non-profits to weigh in on and donate to political campaigns – and his path to doing so is now clearer than ever.

A provision of the tax code since 1954, the Johnson amendment prohibits all tax-exempt non-profit organizations from making political endorsements in – or offering monetary support to – political campaigns. If the president-elect succeeds in overturning it through any of a few available methods, experts say it could have the profound effect of opening up a flow of dark money into politics.

“I think it’ll have as big, or a bigger impact than Citizens United,” said Andrew Seidel, a constitutional attorney and expert on Christian nationalism. “I don’t think people are fully prepared for a country in which churches can accept tax deductible donations in the billions of dollars and then turn around and use that money for partisan politics.”

With a likely narrow majority in the US House of Representatives and the Senate, Trump has multiple avenues to challenge the provision. He could try to push Congress to take legislative action. He could attempt to unwind parts of the provision through executive action, an approach that would likely be subject to litigation. Or, he could involve the Department of Justice – which he has vowed to mobilize politically – in a key, ongoing Texas lawsuit threatening the law.

During Trump’s first term, he failed to deliver on his promise to destroy the amendment. Congress failed to roll back the regulatory measure and in an executive order gesturing at the issue, Trump only advised the treasury to take a lenient posture on the political speech of clergy – “to the extent permitted by law”.

Now, with a lawsuit filed in Texas making its way slowly through the courts, Trump has yet another avenue to chip away at legal limits on churches’ political activity. The complaint, filed against the IRS by National Religious Broadcasters, two Texas churches and the group Intercessors for America – whose mission includes a “call for godly government” – seeks to find the Johnson amendment unconstitutional.

It claims that churches are subject to “unique and discriminatory status” under the tax code and that the IRS “operates in a manner that disfavors conservative organizations and conservative, religious organizations” in enforcing the law.

Named after its author Lyndon B Johnson, the Johnson amendment is inserted into section 501(c)(3) of the tax code to prevent certain non-profits from “participating in, or intervening in, any political campaign on behalf of (or in opposition to) any candidate for elective public office”. The law also notes that “contributions to political campaign funds” would “clearly violate” the provision.

Some churches already flaunt the law’s requirement to refrain from endorsing political candidates – a trend that the Texas Tribune has documented. Repealing the Johnson amendment would allow churches to go further, including potentially donating to partisan causes. Because churches, unlike other non-profit organizations, are not required to file 990 forms disclosing key financial information to the IRS, such an arrangement would allow for little public oversight.

Representing National Religious Broadcasters on the complaint is Michael Farris, the former CEO of the powerful rightwing legal outfit Alliance Defending Freedom and a driving force behind the “parental rights” movement, which seeks to limit schools’ ability to teach about race, gender and sexuality in the classroom. Like the conservative “parental rights” movement, the push to do away with the Johnson amendment could chip away legal barriers separating church and state.

In the short run, overhauling the provision could, Seidel said, allow churches to function effectively as Super Pacs, accepting tax-deductible donations from politically-motivated donors and channeling them into political causes. Such a scenario could, Seidel cautions, force churches to subject themselves to the same financial disclosures that Super Pacs face.

“The church could be the subject of litigation, but then again, who’s going to be running the IRS? Who’s going to be enforcing that?” said Seidel. “It’ll be the Trump administration.”

Finance

Spanberger taps Del. Sickles to be Secretary of Finance

Published

9 hours ago

December 23, 2025

Press Room

Spanberger taps Del. Sickles to be Secretary of Finance

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by Brandon Jarvis

Gov.-elect Abigail Spanberger has tapped Del. Mark Sickles, D-Fairfax, to serve as her Secretary of Finance.

Sickles has been in the House of Delegates for 22 years and is the second-highest-ranking Democrat on the House Appropriations Committee.

“As the Vice Chair of the House Appropriations Committee, Delegate Sickles has years of experience working with both Democrats and Republicans to pass commonsense budgets that have offered tax relief for families and helped Virginia’s economy grow,” Spanberger said in a statement Tuesday.

Sickles has been a House budget negotiator since 2018.

Del. Mark Sickles.

“We need to make sure every tax dollar is employed to its greatest effect for hard-working Virginians to keep tuition low, to build more affordable housing, to ensure teachers are properly rewarded for their work, and to make quality healthcare available and affordable for everyone,” Sickles said in a statement. “The Finance Secretariat must be a team player in helping Virginia’s government to perform to its greatest potential.”

Sickles is the third member of the House that Spanberger has selected to serve in her administration. Del. Candi Mundon King, D-Prince William, was tapped to serve as the Secretary of the Commonwealth, and Del. David Bulova, D-Fairfax, was named Secretary of Historic and Natural Resources.

This work is licensed under CC BY-NC-ND 4.0

Stories posted on Virginiascope.com are available for publications to republish in their entirety for free.

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Finance

Bank of Korea needs to remain wary of financial stability risks, board member says

Published

21 hours ago

December 23, 2025

Press Room

Bank of Korea needs to remain wary of financial stability risks, board member says

SEOUL, Dec 23 (Reuters) – South Korea’s central bank needs to remain wary of financial stability risks, such as heightened volatility in the won currency and upward pressure on house prices, a board member said on Tuesday.

“Volatility is increasing in financial and foreign exchange markets with sharp fluctuations in stock prices and comparative weakness in the won,” said Chang Yong-sung, a member of the Bank of Korea’s seven-seat monetary policy board.

The won hit on Tuesday its weakest level since early April at 1,483.5 per dollar. It has fallen more than 8% in the second half of 2025.

Chang also warned of high credit risks for some vulnerable sectors and continuously rising house prices in his comments released with the central bank’s semiannual financial stability report.

In the report, the BOK said it would monitor risk factors within the financial system and proactively seek market stabilising measures if needed, though it noted most indicators of foreign exchange conditions remained stable.

Monetary policy would continue to be coordinated with macroprudential policies, it added.

The BOK held rates steady for the fourth straight monetary policy meeting last month and signalled it could be nearing the end of the current rate cut cycle, as currency weakness reduced scope for further easing.

Following the November meeting, it has rolled out various currency stabilisation measures.

The BOK’s next monetary policy meeting is in January.

Reporting by Jihoon Lee; Editing by Jamie Freed

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Finance

Mike Burkhold: A Blueprint for South Carolina’s Financial Future – FITSNews

Published

1 day ago

December 22, 2025

Press Room

Mike Burkhold: A Blueprint for South Carolina’s Financial Future – FITSNews

“I am running because the system needs to be fixed and I have the skills and mindset to do it…”

by MIKE BURKHOLD

***

Earlier this month, at the invitation of Virginia Secretary of Finance Steve Cummings, I spent a full day in Richmond meeting with leaders from across that state’s financial infrastructure. These were not ceremonial handshakes. These were working meetings — substantive, focused and highly instructive.

I met with teams overseeing budgeting, taxation, regulatory oversight, accounting and administration. What I found was a modern, integrated and disciplined approach to managing public money. And it made me even more certain of one thing: South Carolina is ready for change.

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TEAMWORK AND TALENT MATTER

What stood out most in Virginia was the cohesion. From top to bottom, everyone I met shared the same mission — being responsible stewards of the taxpayers’ money. No silos. No blame games. Just a united focus on efficiency, transparency and performance.

That mindset doesn’t happen by accident. It is baked into the culture. The Secretary of Finance meets quarterly with department heads to review budgets, resolve audit findings and keep teams on track. There is accountability at every level. And it works.

That is what I want to bring to South Carolina. As Comptroller General, my job is to revitalize and modernize a critical finance function and to do it in close partnership with the legislature, the governor and the treasurer. I want to build an office that operates with precision, earns trust and gives lawmakers the clarity they need to govern wisely.

***

THIS IS BIGGER THAN ONE SEAT

I am not running for this office because I want a long political career. I am running because the system needs to be fixed and I have the skills and mindset to do it.

If part of that fix means rethinking whether this seat should remain an elected position then I welcome that conversation. In other states like Florida, voters elect a Chief Financial Officer with broad oversight. In Virginia, the Secretary of Finance is appointed by the governor and oversees all fiscal functions. Either model can work – but both reflect a commitment to modern coordinated financial management.

What matters most is that we have a structure that delivers results and earns the public’s trust. That structure needs to be part of a bigger conversation focused on delivering value to citizens – not maintaining fiefdoms or political turf.

***

RELATED | S.C. ‘REPUBLICANS’ REBUFF TRUMP ON REDISTRICTING

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PUBLIC SERVICE STARTS WITH LEADERSHIP

One of the most inspiring parts of my trip was seeing the caliber of leaders who had left high-paying private sector roles to serve the people of Virginia. They brought with them a culture of excellence and a belief that good government is possible when the right people step forward.

We have that kind of talent in South Carolina. We just need to encourage more of it. I am stepping up because I believe in servant leadership. I see a seat that has not been led this way in a long time and there is a lot to fix. Not just the systems and operations but also the teamwork and coordination across agencies.

My goal is not what is best for Mike. It is what is best for South Carolina. I want to rebuild the Comptroller General’s office into a trusted partner, a respected institution and a model for modern financial leadership. Then I want to help figure out what structure will best serve the next generation.

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A MOMENT OF OPPORTUNITY

The recent $3.5 billion error exposed just how outdated and fragile our current systems are. But we are not starting from scratch. We are starting from a place of strength. We have smart people, a strong economy and the will to do better.

Now we need to modernize our expectations. We need to align talent. We need to redesign the systems that manage $40 billion of taxpayer money. And we need leadership that sees the big picture, listens well and gets the details right.

South Carolina’s future is full of promise. But to get there, we need to treat government finance with the same rigor, discipline and urgency as any top-performing business.

That is why I am running. Not to keep a seat – but to serve the mission.

***

ABOUT THE AUTHOR…

Mike Burkhold is a Republican candidate for comptroller general of South Carolina.

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