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Issue: Tax Policy

Contributions to 501(c)(3) charities such as museums are tax-deductible, incentivizing those who itemize deductions to greater generosity. Only about ten percent of taxpayers now itemize, however, and multiple measures show that both the amount given and the number of donors were declining prior to the pandemic. Giving appears to have increased during the pandemic, especially smaller gifts, due to the temporary provision that allowed people to deduct up to $300 of charitable gifts even if they do not itemize. We urge Congress to:

  • Cosponsor the Universal Giving Pandemic Response and Recovery Act, H.R. 1704 and S. 618, which would renew the universal charitable deduction that expired at the end of 2021. It allowed taxpayers who don’t itemize deductions to deduct up to $300 ($600 for couples) of charitable contributions.
  • Incorporate language from the Legacy IRA Act (S. 243) into retirement reform legislation, allowing seniors to make tax-free distributions to planned giving accounts as well as to charities.

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Supporting Letters and Testimony

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