Washington – A massive budget agreement that aims to prevent a federal government shutdown at midnight contains a provision that would save Newman’s Own from a thorny tax problem that threatens Paul Newman’s iconic food company.
“This is not a tax break for Newman’s Own. It is simply legislative permission for us to continue to exist, compete, innovate, create jobs, and pay our business taxes like any other company, while at the same time donating 100 percent of our profits to charity,” said Bob Forrester, president and CEO of the Newman’s Own Foundation.