Facebook icon Twitter icon Forward icon

ACR Newsletter

Friday, February 8, 2013

Welcome to our refreshed ACR newsletter. You'll find the same information on charitable giving issues in an easier to navigate, more succinct format. Like it? Hate it? Let us know at info@ACReform.com or tweet us at @ACReform.

>> Federal: Hearing on the Charitable Deduction
>> Federal: Next Deadline is Right Around the Corner
>> Consider This: Tax Reform Cometh! Ignore at Your Peril
>> Upcoming Events: ACR Summit for Leaders

Access the full version online at www.acreform.com.


Washington Roundup

>> Hearing on the Charitable Deduction
>> Next Deadline is Right Around the Corner

On Monday, President Obama signed a bill lifting the federal government’s borrowing limit (also known as the debt ceiling) until mid-May.  This is a novel twist since typically the borrowing limit is increased by a specific dollar amount rather than via a calendar date. The bill will also withhold lawmakers' salaries if their respective chambers fail to pass a budget by April 15, a creative way to apply pressure to act.  Last week, the Senate also approved Senator John Kerry (D-MA) to become the next Secretary of State, replacing Hillary Clinton.  He was officially sworn in on Wednesday, February 6th.  Kerry had been on the Senate Finance Committee so his departure opens up a seat on this committee that is important to the charitable sector and the charitable deduction.
 

Hearing on the Charitable Deduction

On Tuesday, February 5th, House Ways and Means Committee Chairman Dave Camp (R-MI) announced a hearing on “Tax Reform and Charitable Contributions” as part of the Committee’s ongoing work toward comprehensive tax reform. The hearing will be held at 9:30AM on Thursday, February 14th. As we understand it, the purpose of the hearing is to allow stakeholders to officially weigh in on how changes to the charitable deduction might impact the vital services the sector provides. Chairman Camp said, “Public charities and private foundations perform invaluable services for our society, especially during this time of economic slowdown and high unemployment. These organizations depend upon the goodwill of the American people – the most giving and charitable people in the world. Because of the critical role that charities play, the Committee must hear directly from the charitable community before considering any proposals as part of comprehensive tax reform that might impact their ability to obtain the resources they need to fulfill their missions.” keep reading >>
 

Next Deadline is Right Around the Corner

While a short-term fix on the debt ceiling is in place, there are still several key dates for lawmakers over the next several months. The first is the President’s State of the Union Address, scheduled for Tuesday, February 12th. Reports suggest that the President will build upon the policy items mentioned during his inaugural address: government spending, immigration, gun control, and electoral changes. We have not heard any details about the President addressing tax reform in this speech, but we expect he will highlight the recent tax increases and call for more revenue through the tax code. Indeed in a recent appearance on CBS News, the President specifically mentioned closing more "loopholes" and deductions as a way to raise more revenue. As you are well aware, the President has called for capping itemized deductions, including the charitable deduction, at 28 percent in his previous budget proposals and we expect he will do so again. The President’s budget is now overdue, but we expect the administration to send it Congress sometime in the near future. keep reading >>


Consider This +

Tax Reform Cometh! Ignore at Your Peril
By: Anne Urban, ACR

From the looks of the nightly news and the front pages of the major newspapers, all activity in Washington is centered on what to do about immigration and guns.  While tax reform appears to have fallen off the national radar screen, many conversations about scrubbing the tax code are going on off-camera.  Those who assume nothing will happen this year on tax reform, do so at their own risk... keep reading >>

ACR Blog Roundup

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


Top Reads

>> Charitable Deduction
>> States/Local
>> Transparency
>> Caught Our Eye

Top Reads

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

For all headlines keep reading >>


Upcoming Events

ACR Summit for Leaders 2013
Programming of Foundations on the Hill
March 19, 2013
8:00 - 11:00 a.m.
Washington Marriott
Washington, D.C.


REGISTER NOW

2012 was like no other year for the charitable community. The sector faced the most significant threats to charitable giving in recent memory. But the battle is not over for the charitable deduction; Washington is gearing up for an even greater fight over the next few months.

The ACR Summit for Leaders will provide an insider’s look at the political landscape for. Experts will talk with us about future battles over the charitable deduction, troubling issues flying under the radar in states, and lessons learned from the fiscal cliff and how they can be used for the future.

It is more important than ever that foundation executives, nonprofit leaders, and others interested in public policy join us for the ACR Summit for Leaders to learn about what you can do to protect charity.

Sessions will be announced next week.

New for 2013
ACR, the Council on Foundations and the Forum of Regional Associations of Grantmakers are co-sponsoring Foundations on the Hill (FOTH), occurring March 19-20. The ACR Summit for Leaders will be part of FOTH’s programming.

REGISTER NOW
(Note: Full FOTH program registration includes registration for the ACR Summit. Nonprofit organizations not eligible to participate in FOTH should select the “ACR Summit for Leaders Program only” option.)

Contact Patrice Lee at The Philanthropy Roundtable (plee@philanthropyroundtable.org or 202.822.8333) with questions about the ACR Summit for Leaders.

learn more >>


For updates as they happen like us on Facebook and follow us on Twitter.