Tax reform has been the top issue for charities this week. We have now reached a critical point where the future of charitable giving is at risk and we need your help in protecting the future of our missions.
The House could pass its tax reform legislation later this week and the Senate Finance Committee is expected to complete the amendment process this week as well.
While there are many issues requiring our attention, we’re asking you to do TWO things.
- Contact members of the Senate Finance Committee and ask them to support the amendment proposed by Sens. Wyden (D-OR) and Stabenow (D-MI) that would create a universal charitable deduction universal charitable deduction.View the members of the Committee, which include Senators from the following states:CO, DE, FL, GA, IA, ID, KS, LA, MD, MI, MO, NC, NJ, NV, OH, OR, PA, SC, SD, TX, UT, VA, WA, WY. If you are located in one of those states, your voice is especially vital! Please contact your Senators by Wednesday at the latest.
- Contact your Representative and urge them to vote NO on the Tax Cuts and Jobs Act (H.R. 1). [CONTACT YOUR LAWMAKERS] https://democracy.io/
While proposed legislation (from both chambers) simplifies the federal tax structure by reducing the number of itemizers, it has the unintended consequence of removing the tax incentive for millions of taxpayers. It is forecasted this could reduce giving up to $13 billion annually.
“Tax reform should protect and expand this deduction to recognize the impact of charitable gifts, regardless of size, to support those most vulnerable in American society and worldwide,” said Sr. Georgette Lehmuth, OSF, President/CEO of NCDC.
Tax reform is moving at a fast pace and your action is urgently needed TODAY.