House Acts to Make Permanent Charitable Giving Tax Rules

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By USDR
 


 

The U.S. House of Representatives voted today to pass another Ways and Means Committee bill which makes permanent several parts of the U.S. Tax Code relating to charitable giving.

 

 

“Americans are the most generous people in the world — always ready to help their neighbor, whether that’s next door or across an ocean,” said Kevin Brady, a Texas Republican who is a senior member of the House Ways and Means Committee. “Most are ready to give away even more of their hard-earned paychecks to those who need it, but they are tired of sending it to Washington where they know it disappears into a bloated and wasteful federal budget.”

 

 

The America Gives More Act combines five bipartisan bills reported out of the House Ways and Means Committee that will make it easier for businesses to fight hunger in America, for farmers and ranchers to donate easements for conservation purposes, for individuals to donate from an IRA to a charitable organization and to donate more money to charities before filing their taxes, and for foundations to donate more generously to charitable organizations.

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