The Charitable Giving Coalition (CGC) has formally asked the U.S. House Ways and Means Committee and Senate Finance Committee to pass the bipartisan Charitable Act. The Tax Cuts and Jobs Act made many taxpayers ineligible to deduct charitable contributions because they must itemize to claim the deduction. The result: widespread declines in donations to charity in recent years. The Charitable Act would allow a deduction for non-itemizers, enabling taxpayers to deduct up to one-third of the value of the current standard deduction (roughly $4,600 for individuals). According to the CGC, the bill enjoys broad support throughout the charitable sector and in both chambers of Congress.
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