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ACR Newsletter

Friday, April 5, 2013


>> Federal: Congressional Budget Resolutions: What's in Store for Charitable Giving?
>> Federal: Next Up? The White House
>> Upcoming Event: "Transparency in Philanthropy” | April 11 at The Heritage Foundation“
>> Upcoming Event: “Charity and Government: Tax Reform and Beyond” | April 15 at the Urban Institute
>> Upcoming Event: “The Charitable Deduction in American Political Thought” | April 16 at the Hudson Institute
>> Consider This: Does the President have an Appetite for Less Giving?

 

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Washington Roundup

>> Congressional Budget Resolutions: What's in Store for the Charitable Giving?
>> Next Up? The White House

Both the House and Senate are on a two-week recess, and will return to Washington next week. 

Congressional Budget Resolutions: What's in Store for Charitable Giving?
In our last edition, we brought news about the 2014 Congressional budgets being considered in the House and Senate.  Shortly thereafter, a budget was passed in the Senate that contained some interesting things for charitable giving.

The Senate Democrats plan, S. Con. Res. 8, presented by Senate Budget Chairman Patty Murray (D-WA), was the first budget bill to come to the Senate floor since 2009. What’s important for charity is again, what is in store on taxes. It calls for raising $975 billion in revenue, with narrative that says “This could take the form of a limit on the rate at which itemized deductions and certain other tax preferences can reduce one’s tax liability, a limit on the value of tax preferences based on a certain percentage of a taxpayer’s income, or a specific dollar cap on the amount of allowable deductions.” It is highly likely this would include cutting, capping or limiting the charitable deduction. The Senate finally passed their budget resolution at 5:00 AM EST on March 23rd by a vote of 50-49.

keep reading >>

Next Up? The White House
President Obama is expected to release his 2014 budget proposal next Wednesday, April 10th. Senior Administration officials were quoted in reports this morning confirming the budget will call for capping all itemized deductions again, including the charitable deduction, most likely at 28%. And as you may recall, during his confirmation hearing, Treasury Secretary Jack Lew reiterated the Administration’s position that “unlike some other proposals to curb tax expenditures, the Administration’s [FY2013] Budget proposal to limit the value of itemized deductions and certain other tax expenditures to 28% would have a modest impact on the incentive to make charitable gifts.”

If the budget proposal does indeed impact the charitable deduction in a negative way, ACR will actively educate Members of Congress and policy makers on why cuts, caps or limits to the deduction will harm giving and those who need charity the most. It’s time that leaders in Washington stop talking about ways to chip away at charitable giving and instead talk about ways we can increase giving in our communities.


Upcoming Events

Thursday, April 11, 2013
12:00 p.m. - 1:30 p.m.EST
“Transparency in Philanthropy: An Analysis of Accountability, Fallacy and Volunteerism”

The Heritage Foundation
214 Massachusetts Ave. NE
Washington, DC 20002

This book event will dive into John Tyler's most recent publication, Transparency in Philanthropy. In addition to Mr. Tyler, the panel will feature experts Rick Cohen, Heather Higgins, and host John Von Kannon.

To attend in Washington, DC, go to http://www.heritage.org/events/2013/04/transparency-in-philanthropy.  

Monday, April 15, 2013
9:30 a.m. - 1:30 p.m. EST
"Charity and Government: Tax Reform and Beyond"
Urban Institute

2100 M Street NW
Washington, DC 20037

This conference will look broadly at the relationship between the government and nonprofit sectors and their mutual yet distinct roles in the modern economy.

To attend in Washington, DC, go to http://www.eventbrite.com/event/5934453109.

learn more >>

Tuesday, April 16, 2013
12:00 p.m. - 1:30 p.m. EST
“The Charitable Deduction in American Political Thought”
The Hudson Institute

1015 15th Street NW | Suite 600
Washington, DC 20005

On April 16, the Bradley Center will hold a different conversation about the deduction, one that explores its deepest dimensions as an expression of fundamental American political principles. Two recent essays set the stage wonderfully, and will be our "assigned reading": one, by Alex Reid, entitled "Renegotiating the Charitable Deduction," and the other by Rob Reich, entitled "Toward a Political Theory of Philanthropy." In addition to these authors, one of the nation’s foremost scholars of philanthropy, Stanley Katz of Princeton, will join the panel to provide an historical perspective. Hudson Institute Senior Fellow William Schambra will moderate the discussion. Lunch will be served.

To attend in Washington, DC, go to http://www.hudson.org/index.cfm?fuseaction=event_registration&event_id=1007.  

learn more >>


Consider This: Does the President have an Appetite for Less Giving?

President’s Obama’s budget is expected to be released next week, on April 10.  So what do we expect that budget to contain on taxes and how might that impact charitable giving?  More of the same or breaking new ground?

Most prognosticators expect more of the same.  “I don’t expect anything groundbreaking or new” says Curtis Dubay with the Heritage Foundation. 

We tend to agree.  Each year, President Obama has proposed a 28% cap on itemized deductions, including the charitable deduction. But the interesting thing is the underlying fundamentals on some of the President’s proposals have changed. 

Continue reading >>

ACR Blog Roundup
Oregon Legislature Proposes Bill to End Charitable Tax Deduction
The Philanthropy Roundtable Publishes New Book on Transparency in Philanthropy


For regular updates from our blog, follow us @ACReform on Twitter.


Top Reads

Visit Charitable Deduction Central for news, opinion, background and updates on efforts to protect the charitable deduction.

For all headlines keep reading >>


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