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Charitable Deduction | Federal

WASHINGTON UPDATE (11.10.11): Super Committee Plans

The Joint Select Committee on Deficit Reduction (aka the “Super Committee”) is nearing its deadline to make recommendations to Congress on finding $1.2 trillion in reductions to the deficit. The committee is weighing major changes to spending and taxes, including the charitable deduction.

In a closed door meeting Monday (November 7th), Congressional Republicans presented a proposal to the Super Committee that reportedly would boost tax revenue by a net $300 billion over 10 years.  A GOP aide to a Super Committee member said the “centerpiece of the plan” would be Republicans accepting elimination of tax deductions associated with wealthy Americans in exchange for a permanent reduction to marginal tax rates set during the Bush administration…

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ACR Signs on to Letter to Super Committee to Protect Charitable Giving Incentives

Letter Sent Today Signed by Thousands of Nonprofit Organizations

WASHINGTON, D.C.—Thousands of charitable organizations, including the Alliance for Charitable Reform (ACR), sent a letter to the Super Committee showing broad, strong support for protecting the current charitable deduction and incentives that promote giving.

The letter sent today was signed by nearly 4,000 nonprofit organizations across the country. These organizations provide vital services and could be hurt by a change in the charitable deduction.  The voices of these organizations and those they serve send a strong message to the Joint Select Committee on Deficit Reduction, also known as the Super Committee, about the importance of protecting charitable giving incentives.  In addition to the thousands of organizations who signed the letter in various states, nearly 50 national organizations, including ACR, have signed including Feeding America, Goodwill and the American Red Cross.

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Letter to the Super Committee: Save the Charitable Deduction

ACR joins a coaltion of national nonprofit organizations in sending a letter to the Joint Select Committee on Deficit Reduction

Dear Member of the Joint Select Committee on Deficit Reduction:


The undersigned nonprofit organizations urge the Joint Select Committee on Deficit Reduction to expressly preserve the charitable giving incentive for individuals so that charitable contributions can continue to support the vital programs and services on which communities and policymakers rely.

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ACR Newsletter 11.4.11

The latest edition of the ACR newsletter is available below. Here are highlights:

Washington Roundup:

  • Super Committee
  • Spending Packages

Consider This:ACR @ the 2011 Philanthropy Roundtable Annual Meeting

Click continue reading for the latest edition of the ACR newsletter.

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ACR @ the 2011 Philanthropy Roundtable Annual Meeting

Event Recap

This week, Consider This is preempted by a recap of the Alliance for Charitable Reform’s presence at the 2011 Philanthropy Roundtable annual meeting.

Themed Can-Do Philanthropy: Solving America’s Greatest Challenges, this year’s annual meeting explored how private independent giving can—and does—solve America’s greatest challenges. In his opening address, Roundtable president Adam Meyerson reminded the audience that despite the achievements of philanthropy there are serious dangers facing charitable giving including economic stagnation, over-regulation of the charitable sector, and an assault on the charitable deduction by the current Administration. These persistent threats make necessary the vigilance and efforts of ACR, the Roundtable’s public policy arm, to preserve the charitable deduction and protect the freedom of donors and foundations.

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Charitable Deduction | Federal

Reading Between the Lines on the Senate Finance Committee Hearing on Charitable Giving

Consider This…

Earlier this week the Senate Finance Committee held a hearing on charitable giving incentives.  It has been years since the Committee has focused on that topic and the hearing was held in the context of tax reform somewhere down the road.

The Committee has been holding many hearings on various topics to prepare for tax reform and Senators have been exhibiting some hearing fatigue.  So we were surprised by the relatively strong attendance and pleased by the generally warm and fuzzy things members had to say about the charitable deduction. 
Is that all there is?  Is the charitable deduction off the table from future consideration?  For Ranking Member Orrin Hatch (R-UT) it appeared to be.  But reading between the lines, we don’t think so.

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Federal

ACR Newsletter 10.21.11

The latest edition of the ACR newsletter is available below. Here are highlights:

Washington Roundup:

  • Finance Committee Hearing
  • Grassley Amendment
  • Jobs Bill

Consider This:Reading Between the Lines on the Senate Finance Committee Hearing on Charitable Giving

Click continue reading for the latest edition of the ACR newsletter.

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PRESS RELEASE: ACR Applauds Strong Support for Charitable Giving in Senate Finance Committee Hearing

Bipartisan support shown for keeping the charitable deduction intact

WASHINGTON, D.C.—The Alliance for Charitable Reform (ACR) applauded testimony in today’s Finance Committee Hearing, which focused on incentives for charitable giving, for showing strong support for preserving the charitable deduction and ensuring giving continues to serve those in need.

“We applaud Senators Hatch, Baucus and others for their support in preserving giving, especially in today’s tough economic climate,” said Sue Santa, Senior Vice President of The Philanthropy Roundtable. “We also applaud those who testified on behalf of charitable giving, reiterating its importance to charitable organizations.  Those organizations are providing help to many in desperate need, and as we heard in today’s hearing, now is not the time to experiment with changing the charitable deduction.”

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Charitable Deduction | Federal

Senate Finance Committee Holds Hearing on Charitable Incentives

Members of Congress and witnesses advocate preserving the charitable deduction

Today, October 18, 2011, the Senate Finance Committee held a hearing entitled “Tax Reform Options: Incentives for Charitable Giving.”

Senators Max Baucus (D-MT), Orrin Hatch (R-UT), Benjamin Cardin (D-MD), Thomas Carper (D-DE), Charles Grassley (R-IA), and John Thune (R-SD) attended the hearing. They heard from Dr. Frank Sammartino, Assistant Director For Tax Analysis, Congressional Budget Office; Elder Dallin H. Oaks, The Quorum of the Twelve Apostles, The Church of Jesus Christ of Latter-day Saints; Dr. Eugene Steuerle, Richard B. Fisher Chair and Institute Fellow, The Urban Institute; Mr. Brian A. Gallagher, President and CEO, United Way Worldwide; and Mr. Roger Colinvaux, Associate Professor, The Catholic University of America, Columbus School of Law.

In a press release the Alliance for Charitable Reform applauded testimony in today’s hearing, which focused on incentives for charitable giving, for showing strong support for preserving the charitable deduction and ensuring giving continues to serve those in need.

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***Just Announced*** Senate Hearing on Charitable Giving Tax Incentives - Tuesday, October 18, 2011

Baucus to Seek Ways to Efficiently Stimulate Charitable Giving at Tax Reform hearing

Here are updates on the Senate hearing:

Senate Finance Committee Chairman Max Baucus (D-Mont.) will convene a hearing on Tuesday to consider how tax reform can efficiently stimulate charitable giving.  The hearing, titled “Tax Reform Options: Incentives for Charitable Giving,” will take place at 10:00 a.m. on Tuesday, October 18, in Room 215 of the Dirksen Senate Office Building.  This hearing is the latest in a set of hearings being held this fall to examine various segments of the economy and tax code.

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