On Wednesday, May 8, 2013, Senator Jerry Moran (R-KS) spoke on the Senate floor about the importance of maintaining the charitable tax deduction.
Focuses on 1,300 Suggestions for Reform
WASHINGTON, D.C.— The Joint Committee on Taxation (JCT) released a report this week addressing the findings of 11 House Ways and Means Committee tax reform working groups, including the Charitable/Exempt Organizations working group. In addition to the working group findings, the 568-page report also provides a summary of various suggestions made by lawmakers, businesses and individuals during a public comment period. The Alliance for Charitable Reform (ACR) submitted a letter for the public record focusing on issues to expand charitable giving including preserving the charitable deduction, streamlining the Private Foundation (PF) excise tax, and modifying the Pease limitation on the charitable deduction.
Focuses on Charitable Deduction, PF Excise Tax and Pease Limitation
WASHINGTON, D.C.— The Alliance for Charitable Reform (ACR) submitted a letter for public record this week to the House Ways and Means Charitable/Exempt Organizations Working Group, focusing on issues important to the philanthropic community including the charitable deduction, the Private Foundation (PF) excise tax, and the Pease limitation on itemized deductions for certain taxpayers.
The Charitable/Exempt Organizations Working Group is part of the Ways & Means Committee’s process to move forward on tax reform. Preserving the charitable deduction has been a key focus of the charitable community as the deduction has been widely considered as a source of revenue for government spending or to pay down the deficit. ACR, along with the Charitable Giving Coalition, has been very vocal in stressing to lawmakers that the charitable deduction is different, the benefit is to the recipient of charity, and that it must be protected.
by Diane Freda, Bureau of National Affairs
Reproduced with permission from Daily Tax Report, 73 DTR G-6 (Apr. 16, 2013). Copyright 2013 by The Bureau of National Affairs, Inc. (800-372-1033)
APRIL 16 - The charitable deduction will be a target when tax reform negotiations get under way on Capitol Hill, and it does not matter which political party prevails, one of several pundits at an April 15 Urban Institute forum said.
“The kinds of public programs that do good things for worthy people are under very severe assault, and not just under the Ryan budget, but at the hands of President Obama’s budget as well,” said William Galston, senior Brookings Institution fellow and a former Clinton administration official.
Joanne Florino is the senior vice president for public policy at The Philanthropy Roundtable.
April 10, 2013
Soon after the release of President Obama’s FY2014 budget, the Charitable Giving Coalition sent a respond urging the administration to reconsider its stance on the chartiable deduction. The budget incorporates a 28% cap on itemized deductions, including the charitable deduction. The letter can be viewed in its entirety here: CGC_FY_2014_Budget_letter_4-10-13.pdf
For more information, please visit protectgiving.org.
>> Federal: Congressional Budget Resolutions: What’s in Store for Charitable Giving?
>> Federal: Next Up? The White House
>> Upcoming Events: “Transparency in Philanthropy” | April 11 at The Heritage Foundation”
>> Upcoming Events: “Charity and Government: Tax Reform and Beyond” | April 15 at the Urban Institute”
>> Upcoming Events: “The Charitable Deduction in American Political Thought” | April 16 at the Hudson Institute”
>> Consider This: Does the President have an Appetite for Less Giving?
The Hill, 4/4/13
The Charitable Giving Coalition has launched a new website aimed at protecting the charitable deduction, in the nonprofit sector’s latest effort to protect the tax break from tax reform or a grand deficit bargain.
According to a release, the site will highlight how charitable giving helps communities around the country.
“We are fully committed to helping lawmakers understand the unique nature of the charitable deduction – and that it’s not a loophole, but a lifeline,” Sandra Swirski, executive director of the Alliance for Charitable Reform, said in a statement. “It’s unique because it encourages individuals to give away a portion of their income for the benefit of others.”
Website Provides Resources to Inform, Engage in Charitable Deduction Debate
WASHINGTON, D.C. – Heading into a critical stage on the federal budget and tax reform, the Charitable Giving Coalition launched a new website - protectgiving.org. The online resource is designed to provide user-friendly, accessible information about the vital role of charitable giving in America’s communities.
The diverse nonprofit sector is galvanized and unified like never before, working to protect a century-old American tradition – the charitable tax deduction. The website augments many other efforts throughout the charitable sector to make sure lawmakers, stakeholders and the media understand the value and impact of the charitable deduction and what communities stand to lose if elected officials tamper with it.
by Diane Freda, Bureau of National Affairs
MARCH 22—The main goal of getting individual and corporate tax rates down to 25 percent by broadening the base must be established before a House Ways and Means Committee tax reform working group on charitable/exempt organizations can even begin to consider whether the charitable deduction should be limited in some way, committee staffer Harold Hancock said March 21.
At the same time, it is clear from an earlier charitable sector hearing that committee members are supportive of maintaining incentives to give, he told exempt practitioners at the annual Washington Non-Profit Legal & Tax Conference in Arlington, Va.
Charitable/exempt organizations are one of 11 working groups that will be researching proposals and presenting feedback on Committee Chairman Dave Camp’s (R-Mich.) tax reform discussion draft (31 DTR G-11, 2/14/13).