(WASHINGTON, October 10, 2017) – The following statement is from Daniel J. Cardinali, president and CEO of Independent Sector:
“We welcome the introduction of the Universal Charitable Giving Act of 2017 (H.R. 3988), which would expand the charitable deduction to individuals who do not itemize their taxes under current law.
While we have some questions about the approach envisioned in this bill, it is a tangible first step in unlocking greater charitable giving in America, a goal we share with Chairman of the House Ways and Means Committee, Kevin Brady (R-TX). This proposal would also move us closer to another important goal for Independent Sector – making a tax incentive for charitable giving available to all those who pay taxes in the United States.
The bill, introduced by Rep. Mark Walker (R-NC), would place a cap on the charitable deduction at about a third of the standard deduction for non-itemizers. We are concerned that such a cap would ultimately become a ceiling that could actually depress giving.
Independent Sector will be working with the research community and peer organizations across the sector to better understand the impact of Rep. Walker’s bill on the charitable community. We look forward to working with the Congressman, his staff, and other members of the tax writing committees in both the House and the Senate to ensure that every American is incentivized to give more to charities in order to improve their communities.”
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Independent Sector is the only national membership organization that brings together a diverse set of nonprofits, foundations, and corporations to advance the common good. Learn more at independentsector.org.
Contact:
Kristina Gawrgy Campbell
202-467-6144
kristinac@independentsector.org
