Urge Your Members of Congress to Cosponsor the Charitable Giving Tax Deduction Act (H.R. 5771)
On May 10, 2018, Reps. Chris Smith (R-NJ) and Henry Cuellar (D-TX) introduced the Charitable Giving Tax Deduction Act (H.R. 5771), a bill to enact an above-the-line charitable deduction.
Though the 2017 tax code overhaul did not eliminate the charitable deduction, the scope and value of this 100-year-old provision were significantly decreased. While it will take some time to know the exact extent of the impact, changes made to the tax code (i.e. nearly-doubling the standard deduction, decreasing the top marginal income tax rates, and doubling the threshold for the estate tax) will have negative consequences on charitable giving.
The Council and our colleagues in the field have long-supported the idea of a universal, or above-the-line, charitable deduction to mitigate the anticipated effects that tax reform will have on charitable giving, as well as to expand access to all taxpayers (regardless of whether they itemize).
The Charitable Giving Tax Deduction Act would provide just this.
We urge you to take action by asking your Members of Congress to cosponsor H.R. 5771.
*Note: The Council recognizes that private foundations may only engage in lobbying on under the self-defense exception. If you wish to engage on this legislation and have questions, please contact the Council's Government Relations team.